Brazil’s Social Security Over US$ 1 Billion in the Red

The Social Security deficit, which reflects the difference between benefit payments and contributions, amounted to slightly over US$ 1.23 billion (3 billion reais) in July, less than the deficit registered in June.

The secretary of Social Security in the Ministry of Social Security, Helmut Schwarzer, said Thursday, August 25, that the situation of financial imbalance reflects the increased cost of benefit payments, a consequence of populational growth and improvements in the average value of benefit payments.


Nevertheless, he underscored that contributions were up nearly 7% in comparison with July, 2004. The reason, according to the secretary, is the increase in formal job posts.


ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazilian Astronaut Gave Up Nasa to Celebrate Dumont’s Pioneer Flight

The Brazilian Space Agency (Agência Espacial Brasileira) (AEB) is in a race against time ...

Brazil Wood Sector Sells US$ 8 Million to Arabs in First Quarter

The Brazilian wood industry had revenues of US$ 8.1 million with exports to the ...

Bar Association Wants 10 Brasília’s Assemblymen Ousted

This past December 16, the Federal District Legislative Assembly, which like other legislative bodies ...

The Brazil-Russia Romance: Lula Flying to Moscow Twice This Year

A senior Russian Foreign Ministry official announced this Wednesday, February 11, in Moscow, that ...

Lower Oil Prices Stir Brazil Market Up

Brazilian and Latin American shares continued to post gains, as traders are bullish on ...

Brazil’s TAM Picks Unisys to Be IT Honcho

TAM, Brazil’s largest global airline, has signed a five-year contract with Unisys in order ...

Brazil Scrambles to Find Out What Made Its Cattle Sick

Brazil’s Minister of Agriculture, Livestock, and Supply, Roberto Rodrigues, said that the identification of ...

Brazil and U.S. Committed to Rule of Law

In June of 2003, Brazilian President Luiz Inácio Lula da Silva and U.S. President ...

Obama Tells Brazil’s Lula He Wants to See Now a Gesture of Cuba

Barack Obama, the American president, in a call to Brazilian president Luiz Inácio Lula ...