July 11, 2019 / 10:17 PM / 5 days ago

Brazil house speaker says pension savings must be 900 billion-950 billion reais

BRASILIA (Reuters) - Brazil’s lower house speaker Rodrigo Maia said on Thursday that there is little room to dilute the pension reform bill, and that potential savings must be between 900 and 950 billion reais ($240 billion-$253.5 billion) over the next decade.

The lower house is expected to vote on amendments to the bill later on Thursday, having passed the main text of the bill on Wednesday. The government’s official target is for 1.237 trillion reais savings, while Economy Minister Paulo Guedes has long said that anything around 1 trillion reais would suffice.

Reporting by Lisandra Paraguassu; Editing by Sonya Hepinstall

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