June 14, 2019 / 4:45 PM / 11 days ago

Brazil Economy Minister expresses disappointment with pension reform bill changes

RIO DE JANEIRO, June 14 (Reuters) - Brazil’s Economy Minister Paulo Guedes on Friday expressed his disappointment with a congressional committee’s report on pension reform, saying it made more changes to the government’s original proposals than he had expected.

Speaking in Rio de Janeiro, Guedes said a bill generating 1 trillion reais ($256 billion) of savings over the next decade would represent real reform of the country’s bloated social security system, but around 860 billion meant the issue would need revisiting in five or six years time.

The special committee on pension reform’s long-awaited report on Thursday recommended changes to the original draft, reducing the government’s planned 1.2 trillion reais of savings to 913.4 billion reais. (Reporting by Rodrigo Viga Gaier Writing by Jamie McGeever Editing by Chizu Nomiyama)

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