April 10, 2019 / 2:10 PM / 4 months ago

Brazil will need to keep cutting spending, even if pension reform approved

NEW YORK, April 10 (Reuters) - Brazil will still need to slash public spending, particularly government salaries, even if Congress approves a strong pension reform bill delivering a high level of savings, Treasury Secretary Mansueto Almeida said on Wednesday.

Speaking at a conference in New York, Almeida said that pension reform is a difficult process but support in Congress is strong and the government is “learning” to negotiate with lawmakers. Almeida also said the minimum wage must be capped but defended a controversial pay rise for army generals as “fair”. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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