November 16, 2016 / 6:13 PM / 2 years ago

Brazil finmin sees high probability of reform passage

NEW YORK, Nov 16 (Reuters) - Brazil’s fiscal reforms have a high chance of approval and will help limit spending, which are becoming unsustainable, Finance Minister Henrique Meirelles said on Wednesday at an event in New York.

“We are seeing for the first time high chances that the package of fiscal measures is approved,” Meirelles said in a speech. Brazil’s government has proposed a 20-year-long federal spending cap and pension reform. (Reporting by Guillermo Parra-Bernal; Writing by Silvio Cascione; Editing by Chizu Nomiyama)

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