RIO DE JANEIRO: Brazil’s Economy Minister Paulo Guedes said that pension reform must deliver at least 1 trillion reais ($262.26 billion) in savings in order to fund a transition from the current system to individual retirement accounts.
Guedes said the government would consider privatizing state-controlled companies Petroleo Brasileiro SA and Banco do Brasil SA after Privatization Secretary Salim Mattar finishes his current slate of planned privatizations.