Brazil's pension deficit grows, requiring urgent reform

estadao.com.br (Portuguese)

Brazil's pension deficit surged over 62% in ten years, reaching R$442 billion in 2025, necessitating urgent reform. The deficit's growth, despite the 2019 reform, highlights an unsustainable trend driven by an aging population and declining birth rates. Experts warn the deficit could reach R$810 billion by 2040 without further adjustments, impacting fiscal stability.


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Brazil's pension deficit grows, requiring urgent reform | News Minimalist