April 20, 2017 / 8:20 PM / 8 months ago

Savings from Brazil pension reform now around 76 pct of original plan -minister

WASHINGTON, April 20 (Reuters) - The current draft of a reform of Brazil’s pension system would generate savings of about 76 percent of the original plan, Finance Minister Henrique Meirelles said on Thursday.

President Michel Temer’s administration has agreed to dilute the terms of the reform in order to secure its approval in Congress, raising concerns among economists that the government will need to enact further austerity measures in coming years. (Reporting by Alexandra Alper; Writing by Bruno Federowski; Editing by Phil Berlowitz)

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