Showing posts with label Pensio Reform. Show all posts
Showing posts with label Pensio Reform. Show all posts

Friday, 17 May 2019

Brazilian government self-destructs

Even with the consensus in the Brazilian society of the need for reforms, the government of Jair Bolsonaro proved completely unable to advance the reforms. Today, the president has published a text in which he affirms that Brazil is an "ungovernable" country.

The government of Jair Bolsonaro sold the idea of would go government without doing any political negotiation. This uncompromising stance coupled with the numerous errors and corruption scandals involving ministers and people close to the president put the current government on the path of growing unpopularity.

Brazil's current fiscal framework is unsustainable. The expectation of the approval of a Pension Reform still keeps the economic scenario minimally stabilized. If this does not happen, the trend is that the Brazilian economic scenario will get much worse.

Now comes the news that the National Congress intends to officially take center stage in the discussion on Pension Reform. Deputies of the Special Commission advocate abandoning the government project and instead put a substitute - alternative text to the Proposed Amendment to the Constitution (PEC) number 6 for voting. They do not want to approve the Reform proposed by President Jair Bolsonaro, who has a bad relationship with Congress.

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