BRASILIA (Reuters) – Brazil’s decrease home of Congress was on account of vote on Tuesday on a flagship overhaul to the pension system however by early night the talk had nonetheless not begun, calling into query whether or not the federal government had the votes it wants.
The decrease home speaker, Rodrigo Maia, determines when a vote happens however will solely proceed when he’s assured he has help from the home, which is comprised of representatives of greater than 20 political events.
The vote is a take a look at of help for President Jair Bolsonaro, who has made it his key financial coverage and is banking on the reform to carry the nation’s public funds again to well being.
His economic system ministry says Brazil’s financial development and inflation prospects for years to come back relaxation on closing the large finances hole created by the nation’s beneficiant pension system.
Joice Hasselmann, the federal government’s chief in Congress, instructed reporters it was attainable the vote may very well be delayed till Wednesday. The invoice moreover is predicted to face obstruction from opposition events, she mentioned.
“Even with obstruction, we are going to overcome the obstruction and vote, no drawback,” Hasselmann mentioned.
Earlier within the day, Bolsonaro and Maia each mentioned they had been assured the invoice would go two rounds of decrease home voting this week earlier than Congress breaks for recess on July 18.
The vote was anticipated to be tight because it requires a three-fifths majority, or 308 of the 513 members of the decrease home, to make the constitutional modifications the invoice calls for. Presidential Chief of Workers Onyx Lorenzoni mentioned on Sunday that the federal government estimated it might depend on round 330 votes.
However a ballot of lawmakers printed on Tuesday by newspaper O Estado de S.Paulo discovered that 268 members of the decrease home supported the invoice, the best quantity but however nonetheless 40 votes quick of what’s wanted.
The newspaper mentioned 105 lawmakers opposed the modifications, 72 didn’t reply, 42 couldn’t be contacted and 23 had been undecided.
If the pension invoice passes within the decrease home, it’s going to transfer to the Senate after the congressional recess from July 18 to 31. Credit score Suisse analysts anticipated it to be authorized there with little danger of being watered down by amendments.
Brazilian markets have rallied in latest days on rising expectations that the pension invoice might go. The benchmark Bovespa index hit a file excessive on Monday, rising three.5% this month; it’s up almost 19% yr up to now.
The nation’s markets had been closed on Tuesday for a public vacation in Sao Paulo.
Reporting by Jake Spring, Maria Carolina Marcello and Jamie McGeeverEditing by Daniel Flynn, Steve Orlofsky, Richard Chang and Cynthia Osterman