President Jair Bolsonaro has warned that Brazil's generous pension system will bankrupt the country if changes are not made. – EPA pic, October 23, 2019.
BRAZILIAN stocks hit a record high yesterday, ahead of the approval in the Senate of President Jair Bolsonaro’s ambitious pension reform bill seen as crucial to unleashing other much-needed changes. After some tweaks by Congress, Bolsonaro’s signatory economic policy is expected to save more than 800 billion reais over 10 years – less than the 1.2 trillion reais originally projected.
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