Brazil pension reform clears Congress, stocks hit new highs | Malay Mail

Brazil's Economy Minister Paulo Guedes gestures as he speaks during Brazil Investment Forum in Sao Paulo October 10, 2019. — Reuters pic

Brazilian markets rallied and stocks hit an all-time high as the government cleared the final legislative hurdle for its top economic priority. Economists have said the controversial cuts to social security spending are crucial to closing a fiscal deficit that cost Brazil its investment-grade credit rating.

The government and economists say it is the single most crucial measure to put Brazil's public finances on a more stable footing, boost investor and business confidence, and inject life into the sluggish economy. Overhauling Brazil's costly social security system was Bolsonaro and Economy Minister Paulo Guedes' No. 1 economic reform push during their first year in office.

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Brazil stocks hit record high ahead of pension reform vote | The Malaysian InsightJair Bolsonaro's signatory economic policy expected to save more than 800 billion reais over 10 years.
مصدر: msianinsight - 🏆 8. / 63 اقرأ أكثر »

Brazil stocks hit record high ahead of pension reform vote | The Malaysian InsightJair Bolsonaro's signatory economic policy expected to save more than 800 billion reais over 10 years.
مصدر: msianinsight - 🏆 8. / 63 اقرأ أكثر »