ADVERTISING

Latest Photo Galleries

Signs of Tension Signs of Tension

Published on 04/11/2016

Rio: a City in Metamorphosis Rio: a City in Metamorphosis

Published on 11/19/2015

Brazilian Markets

18h13

Bovespa

-0,74% 98.040

16h43

Gold

0,00% 117

17h00

Dollar

+1,16% 3,9000

16h30

Euro

+0,49% 2,65250

ADVERTISING

'Let's Face Pension Reform', Says President Rousseff

01/08/2016 - 11h35

Advertising

FROM BRASÍLIA

In her first interview of 2016, President Dilma Rousseff defended the pension reform by saying that "it is not possible to have an average retirement age of 55 in the country".

The President defended the adoption of mechanisms to raise the retirement age, a measure criticized by Rousseff's Workers' Party and social movements. "Let's face the pension reform," she said, highlighting that she will not change acquired rights and that a period of "transition" will be needed.

According to the President, the change can be made by fixing a minimum retirement age or by creating an instrument that mixes age with contribution period, as occurred with the "mobile formula 85/95", which sum points of age to the contribution period for women and men.

This may be the way [establish a minimum age]; the other is the 85/95 mobile formula approved in Congress," said Rousseff, answering on how the country's retirement age would be raised. She emphasized that the government will negotiate the reform with workers, businessmen and Congress.

Rousseff also insisted that the fiscal adjustment is her top priority for the economy. She will also seek to achieve a surplus of 0.5% of GDP and this will contribute to keep inflation below the goal of 6.5% this year.

The President outlined three actions to achieve this.

The first is fiscal balance. The second is to approve tax measures in Congress, including the recreation of the CPMF, a tax on banking transactions. The third is to encourage investments in infrastructure like bids for airports, ports, railways and hydropower plants.

Asked about the measures the government is preparing to reverse the economy's downturn, Rousseff said that any action taken cannot increase fiscal spending.

Translated by JULIANA CALDERARI

Read the article in the original language

Romildo de Jesus/Futura Press/Folhapress
Brazil's President Dilma Rousseff
Brazil's President Dilma Rousseff

You have been successfully subscribed. Thanks!

Close

Are you interested in news from Brazil?

Subscribe to our English language newsletter, delivered to your inbox every working day, and keep up-to-date with the most important news from Brazil.

Cancel