Jair Bolsonaro said that if his pension reform was not approved, Brazil would look like Argentina – 25/04/2019

The President of Brazil, Jair Bolsonaro He said on Thursday that if the pension reform discussed in Congress represented an economy of less than R $ 800,000 million (nearly $ 200,000 million) in 10 years, the country would find itself in a situation similar to that of the United States. United. Argentina

Bolsonaro had lunch with reporters at Plbadto's presidential palace, while in Argentina the markets were shaking and the dollar and country risk were rising at high speed.

And he said that the 800,000 floors is an account of the Minister of Economy, Paulo Guedes, according to the G1 portal of the network World. According to the president, Guedes told him that an economy of this value would represent a positive "turning point" in the country's trajectory.

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According to Globo, the economic team is projecting that the state will save 1.6 billion reals (about 400,000 million dollars, to change this Thursday) with reform in a decade. The text takes its first steps in the Chamber of Deputies and must go through the Senate. But in this way, changes in the text could reduce the impact of the reform, according to Brazilian media.

During the meeting with the press, Bolsonaro said that if the reduction in spending is less than 800 000 million reais, "the situation will explode in 2022."

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The controversial reform of the pension system was sent to Congress by the Bolivian government in February. This is the main tool for reducing the budget deficit and seducing the markets.

The text that proposes a hardening of the conditions In order to retire, he broke through the first barrier on Tuesday, when he was guaranteed by an overwhelming majority in the Constitution and Justice Committee of the Lower House of Brazil.

Bolsonaro, in power since last January 1, thanked Wednesday night in a televised message "the commitment" of the majority of the members of this committee and "the commitment" of the Speaker of the House of Deputies, Rodrigo Maia, with whom he had his differences a few weeks ago with crosses of statements that made fear the process of reform.

The project will now have to undergo the badysis of a second commission that will evaluate it from the political and economic point of view.

"The government continues to count on the patriotic spirit of parliamentarians to approve the new pension system during this second stage and later at the plenary session of the Chamber of Deputies," Bolsonaro said in his brief message. in the country.

In case this second committee approves it, the reform would go to the plenary session of the lower house and would be transmitted to the Senate only after having obtained the support of the qualified majority of the deputies.

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Bolsonaro warned that if the reform is not approved, the country "will not have the resources to guarantee the pensions of all Brazilians" and "there will be no conditions to invest" in areas such as "health, education and security".

"We are certain that the new social security system will allow Brazil to resume growth, create jobs and, mainly, reduce social inequalities because, with reform, the poorest will pay less," he said. added. Because of this, he said: "Brazil is in a hurry"

The project, presented by the government as an amendment to the Constitution, proposes to gradually restrict access to the current system of distribution, in which the state manages the contributions of workers and distributes them among pensioners.

At the same time, this would pave the way for the adoption of an individual capitalization scheme, similar to that of Chile, in which retirement will depend on what each worker has been able to save throughout his life.

Source: agencies