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Montevideo, May 19th 2019 - 12:58 UTC

Brazil's lower house speaker forecasts pension reform will be approved by next June

Friday, April 12th 2019 - 09:45 UTC
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“Dialogue, arguing the case for pension reform, showing how it will affect business in Brazil, investment, employment, public-private partnerships” said Maia “Dialogue, arguing the case for pension reform, showing how it will affect business in Brazil, investment, employment, public-private partnerships” said Maia

Brazil’s pension reform process will pick up momentum after the Easter holidays, staying on track for approval in the lower house in May or June, the lower house speaker Rodrigo Maia said on Thursday.

Speaking at a conference in New York, Maia said he was also optimistic the final bill would generate the 1 trillion reais (US$ 260 billion) in savings over the next decade the government is seeking. While it might be passed 15 to 30 days later than hoped for, the delay will not matter, he said.

Central to the government’s ability to get its signature economic reform through Congress is communication and dialogue between the government of President Jair Bolsonaro and lawmakers, which until now has been poor, Maia said. But with Bolsonaro now sitting down and talking with party leaders, it is improving.

“Dialogue, arguing the case for pension reform, showing how it will affect business in Brazil, investment, employment, public-private partnerships - that’s what the government has to do so that lawmakers are comfortable in voting for pension reform,” Maia told reporters on the sidelines of the conference.

Some elements of the bill, such as changes to retirement benefits of rural, elderly and disabled workers, have generated strong opposition among lawmakers. But while they may be debated strongly and even modified, these elements are unlikely to significantly alter the bill’s ultimate savings goal, Maia said.

He expects Congress to engage in “very positive” dialogue once lawmakers return after the Easter holiday, paving the way for final debate and voting some time at the end of May or June.

A spat between Maia and Bolsonaro last month blew up into a public war of words, which threw the pension reform process into doubt and roiled financial markets. Maia said on Thursday that the responsibility for steering social security reform through Congress is shared between the government and lawmakers.

Maia said that a majority of lawmakers recognize the need for reform but admitted that sentiment is not shared across the country.

Categories: Economy, Politics, Brazil.

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  • :o))

    In his speech; P.G. admits that the Public Expenditure - “EXPENDITURE” - has shot up from 18% to 45% of the GDP!

    But on account of this rise; he doesn't say a word - not ONE word about:
    - any improvement in the Standard of Living
    - the % of the GDP which was very generously stolen [for generations] by the Thieving Political Community which speaks volumes about his “fidelity”:

    https://youtu.be/RkXwCFGdRVk

    Apr 12th, 2019 - 01:17 pm 0
  • Jack Bauer

    @:o))
    I watched the video...PG's speech was interesting, and constructive.....and don't think it was a matter of PG “admitting” to anything, rather, stating that the way government had been run for the last 40 years, is what has driven public expenditure to the unhealthy level of 45 % of GDP. At the end of military regime, it was around 26/27%, and it was the civilian governments, after 1985, that took it to 45%...a symptom of uncontrolled public spending.

    If he declined to mention anything about the 'improvement in quality of life', it is probably because it was not particularly worty of comment.

    He was professional , and sufficiently emotionally detached, to avoid openly criticizing Congress and past governments....as what has passed, is the past, what matters now is the future....after the reform of social security system is approved, and 'how' it is approved (provided not too disfigured by Congress, unwilling to give up 'their' imoral benefits and privileges).

    Apr 13th, 2019 - 06:17 pm 0
  • DemonTree

    @JB
    The new corruption accusations against Maia might make pensions reform harder...

    Re your reply to “Travellers scrambling”
    I saw that B had fired his education minister. Guess he was too reactionary even for B. Good decision, anyway; I hope the new guy is less interested in rewriting the text books and more interested in how much kids are learning.

    “I'd like to know one Brazilian politician who, in the last 20 years, did ?”

    Surely Congress must have done *something* good in the last 20 years? And even if not, there were ministers who were responsible for their departments and must have done work of some kind. Brazil is probably similar the the UK in that most legislation is proposed by the governing party(s), but opposition MPs can still be active if they choose.

    “Re hot/cold climates, perhaps it’s also linked to intelligence…and/or the need to provide for the future ?”

    I don't think civilisation can be linked to intelligence, if it was we wouldn't see them rise and fall and the centres of civilisation move around throughout history. And IME there's not much relation between intelligence and willingless to work hard, if that's what you meant.

    The need to provide/plan for the future is an interesting one; it fits with Egypt, although it's a hot climate, because of the seasonal flooding of the Nile that was so essential for farming there. Not sure about other ancient or modern civilisations, though.

    “I’m sure the UK has its quota of lazy bums”

    Yeah, there are some. I think in contrast to Brazil, it's easier for people who are willing to work to get ahead, and also easier for those who don't to do nothing. Do you mean Brazil was better than West Africa in attitudes in the 80s, or just richer/more developed? And is Brazil better now than in the 80s or 90s?

    “Re SJWs, why should my advantage be considered a privilege ?”

    You don't think going to an expensive private school is a privilege? I do.

    Apr 13th, 2019 - 09:46 pm 0
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