May 9, 2019 / 2:46 PM / a year ago

Brazil economy faces serious difficulties this year if pension reform not approved -official

BRASILIA, May 9 (Reuters) - Brazil’s economy faces serious problems in the second half of this year if Congress does not approve pension reform, Labor and Pensions Secretary Rogerio Marinho said on Thursday.

Speaking at an event in Rio de Janeiro, Marinho noted that recent survey and labor market data already suggest that second half of this year will be difficult for the economy.

Figures on Thursday showed that retail sales in March posted their biggest annual fall since 2016.

Reporting by Rodrigo Viga Gaier Writing by Jamie McGeever

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