June 14, 2019 / 3:09 PM / 3 months ago

Brazil's Bolsonaro says confident pension reform will be approved

Brazil's President Jair Bolsonaro attends a ceremony of the Brazilian National Development Bank (BNDES) Line of Credit for Philanthropic Organizations at the Planalto Palace in Brasilia, Brazil June 13, 2019. REUTERS/Adriano Machado

BRASILIA (Reuters) - Brazil’s President Jair Bolsonaro said on Friday that he is confident a bill to overhaul the country’s costly pension system will win approval in Congress.

Bolsonaro told reporters that concessions had to be made to make sure the bill is passed, otherwise there was a risk of not getting anything approved.

A report on the draft bill presented on Thursday by the special congressional committee on pensions envisages savings of 913.4 billion reais ($235 billion) over the next decade, short of the 1.2 billion reais the government had hoped for.

($1 = 3.8830 reais)

Reporting by Anthony Boadle; Editing by Chizu Nomiyama

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