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Paulo Guedes says Nova Previdência will open gates for Brazil to grow again

New Social Security

Minister says there is no alternative for rebalancing public accounts

The Economy Minister, Paulo Guedes, once again said that he is confident in the approval of the New Pension Plan by the National Congress, a measure of extreme importance for the rebalancing of public accounts. Guedes said there is no alternative, since the current model has become unsustainable. "We have a demographic bomb, we can not continue with this threat," he said Wednesday during a seminar organized by Correio Braziliense newspaper.

According to Guedes, Nova Previdência will open the door to economic growth and return on investments, as well as repairing inequalities and removing privileges. He also stated that the "State spends a lot and spends badly" and that reform is essential to repair this situation.

 Fiscal power

The minister stressed again the importance of the fiscal power of at least R $ 1 trillion in 10 years, to ensure the transition from the current regime, from distribution, to capitalization. In Guedes' assessment, this would bring a relief to the public budget for at least 15 years.

"That's the fuel. We are willing to sacrifice ourselves because, if it comes to $ 500 million, we will be compromising the future of our children. They will bring us the parachutes and they will stay in the plane, which will fall into the ocean, "he said.

Guedes praised the "extraordinary" performance of the presidents of the Chamber of Deputies, Rodrigo Maia, and the Senate, David Alcolumbre. "Alcolumbre has already said that he will set up a parallel committee so that he does not delay in the Senate, so we vote quickly," he said, noting that everyone is doing their part to get Brazil to grow again.