Maia: Without pension reform, Brazil will reach the fiscal situation of Rio de Janeiro.
Acting President Rodrigo Maia, speaking during the signing of Rio de Janeiro's fiscal recovery plan, said that if federal government spending is not revised, Brazil could reach the same fiscal situation as the state of Rio de Janeiro; "Without pension reform, without clearly discussing the spending of states and municipalities, we will soon have a situation at the federal level very similar to the situation that the state of Rio has," he stated; according to him, the reform agenda aims to "reorganize the Brazilian state" and give the private sector "a leading role that has been taken by the Brazilian state in recent years."
Reuters Acting President Rodrigo Maia said on Tuesday, during the signing of the fiscal recovery plan, that if federal government spending is not revised, Brazil could reach the same fiscal situation as the state of Rio de Janeiro.
"Without pension reform, without clearly discussing state and municipal spending, we will soon have a situation at the federal level very similar to the situation the state of Rio is in."
Maia --who is temporarily serving as President due to President Michel Temer's trip to China-- said that the reform agenda currently in the Chamber of Deputies aims to "reorganize the Brazilian State" and seeks to give the private sector "a leading role that has been taken by the Brazilian State in recent years."
The fiscal recovery plan for Rio de Janeiro was finalized this Tuesday and foresees a fiscal adjustment of 63 billion reais by 2020.