Brazil's Economy Minister Paulo Guedes threatened to step down in an interv...
BRASILIA - Brazil’s Economy Minister Paulo Guedes threatened to step down in an interview published on Friday if his ambitious plans to overhaul the country’s social security system are watered down and diluted into what he called a “little reform.”
“I’ll get on a plane and I’ll live abroad. I’m old enough to retire,” Guedes said, in the interview published on magazine Veja’s website. Guedes, who is seen as the economic heavyweight in President Jair Bolsonaro’s administration, has taken the lead on selling pension reform to the country, although with mixed results. The proposal is still unpopular with ordinary Brazilians and has yet to win the necessary support of politicians in Brasilia.
“Logically, he is seeing this as a catastrophe, and I agree with him, if we do not approve a reform that is similar to the bill we sent to Congress,” the president told reporters during a public event in the northern city of Recife.The bill wending its way through Congress aims to save 1.237 trillion reais over a decade by raising the retirement age and increasing workers’ contributions. The government says it is vital to reviving the lackluster economy.
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