Brazil May Share FGTS Profit With Workers, O Globo Reports

Brazil’s government may share 50 percent of the profit of the workers’ compensation fund, known as FGTS, with its holders, O Globo reported, citing documents from Caixa Economica Federal, the state-controlled bank that manages the fund.

The measure has the support of the Labor ministry, the Rio de Janeiro-based newspaper said. FGTS had 217 billion reais ($121.5 billion) and 90 million accounts in activity as of the end of 2010, O Globo reported.

To contact the reporter on this story: Maria Luiza Rabello in Brasilia at

To contact the editor responsible for this story: Joshua Goodman at

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