June 20, 2017 / 2:20 PM / 3 months ago

Brazil's Temer says wants pension reform approved this month

MOSCOW, June 20 (Reuters) - Brazil’s government wants a landmark pension reform approved by the Chamber of Deputies in a first-round vote in the first half of the year, before a legislative recess scheduled for late July, President Michel Temer said on Tuesday during a visit to Moscow.

The proposed overhaul to Brazil’s costly social security system is seen by investors as a crucial step in balancing the country’s budget in the long run. However, its approval has been put into question after the president was placed under investigation by the Supreme Court last month. The reform needs to be approved in two votes by both houses of Congress to become law. (Reporting by Silvio Cascione in Brasilia; Editing by Chizu Nomiyama)

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