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State finances are the biggest risk for Brazilian economy

State finances are the biggest risk for Brazilian economy
Rio de Janeiro state servants protest salary delays. Photo: ABr

At this point, the approval of Brazil’s pension reform is considered by analysts as a matter of time. But, while it is set to give the federal government much-needed financial relief, the ruin of Brazilian states and municipalities is set to continue. 

In order to avoid further delays to what is the backbone of the government’s economic agenda, senators decided to split the pension reform into two pieces of legislation. As editor-in-chief Gustavo Ribeiro explained in our September 4 Daily Briefing, one bill preserves the text approved by the lower house, without changes, while another includes all the...

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