President Jair Bolsonaro said in an article published Wednesday that pension reform is the flagship of his government and pledged to put all the effort into Congressional approval of the matter as soon as possible, GDP growth of 3.3 percent in 2023 if the text is approved.
In an article published in the Valor newspaper on the day he returned to the United States, Bolsonaro described the current social security system as “the main actor in this television serials called fiscal imbalance, which costs the country 800 billion Reais a year.”
According to the president, there are no viable options for resuming sustained economic growth without the realization of the Social Security reform, in addition to the promised tax and labor reforms.
“If the current (social security) rules are maintained, not only our pensions but also those of our children and grandchildren will be at risk. Without the reform, economic health will move quickly to the ICU of the social crisis, countries, “Bolsonaro said in the article.
The president cited the weakness of the industry in recent years and 13.2 million unemployed and pointed to reforms as the only way to resume economic growth. “With the New Pension Plan, our expectation is to reach 3.3 percent (of GDP growth) in 2023,” he said.
“If the reform is not approved now, there will be complete exhaustion of financial capacity, which will prevent the government from solving the vital issues of society,” he added.