【auto tags king of prussia】Brazil's economy minister to launch pension reform via executive decree -Folha

SAO PAULO,auto tags king of prussia Jan 2 (Reuters) - Brazil's new Economy Minister Paulo Guedes has drafted a temporary executive decree for a pension reform that could save up to 50 billion reais ($12.9 billion) over the next decade, Brazilian newspaper Folha de S. Paulo said on Wednesday.

Far-right President Jair Bolsonaro, who took office on Tuesday, should sign the decree in coming days, according to the report, which did not mention how it obtained the information.

An economy ministry spokesman said Guedes only officially takes over the ministry later on Wednesday, declining to comment further.

A reform of Brazil's bloated pension system, which eluded the previous government, will be among Bolsonaro's biggest challenges since he has yet to build a base in Congress. To come into force permanently as a law, executive decrees need approval from Congress. ($1 = 3.8804 reais) (Reporting by Carolina Mandl Editing by Daniel Flynn)

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