Brazil’s New Economic Agenda Is About More Than Pension Reform
Brazil’s New Economic Agenda Is About More Than Pension Reform
The country needs urgent reforms, but the new leadership in Congress suggests change may take time.
Brazil needs pension reform. That is a given. But a fiscally sustainable social security system is only the start – a crucial step in bringing about broader and much needed structural changes to the economy.
Brazil’s Economy Minister Paulo Guedes is a proponent of liberal principles and brings a message of free markets and lower taxes that is in stark contrast to his predecessors. But achieving his vision won’t be easy. Changes in the pension system will demand exhaustive political work, including constitutional changes requiring means more than three-fifths of the votes in both...
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