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Brazil to inject $5 bln in economy by lowering PIS/Pasep minimum age
August 23, 2017 / 3:44 PM / a month ago

Brazil to inject $5 bln in economy by lowering PIS/Pasep minimum age

BRASILIA, Aug 23 (Reuters) - Brazil will inject 15.9 billion reais ($5 billion) in the economy by lowering the minimum age for withdrawing from the PIS/Pasep fund, Planning Minister Dyogo Oliveira said on Wednesday.

Around 8 million people will be benefited by the measure, Oliveira said. The PIS/Pasep fund is used to pay handouts to low-earning formal workers.

$1 = 3.1553 reais Reporting by Lisandra Paraguassu; Writing by Bruno Federowski

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