RIO DE JANEIRO, BRAZIL - Presidential Chief of Staff Onyx Lorenzoni said yesterday, August 10th, that the government will be submitting to the Chamber of Deputies "in the coming weeks" a proposal for an amendment to the Constitution (PEC), establishing a capitalization model in the social welfare system.

Capitalization is a system in which every worker holds a personal social welfare account. Onyx said the team of the Minister of Economy, Paulo Guedes, is finalizing the proposal.

"There lies Brazil's great future. Not only in regard to the social welfare issue but primarily as an instrument and tool to expand . . .

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