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Obstacles litter privatization path in Brazil under Bolsonaro
BY MOISES AVILA (AFP) 20 MINS AGO
An ambitious privatization plan by the incoming government of Brazil's president-elect Jair Bolsonaro faces some challenges, not least from a cadre of ex-military men in the cabinet and reticent lawmakers.
Bolsonaro's future economy minister Paulo Guedes, a liberal economist steeped in free-market theory from the University of Chicago, is leading the charge to sell off state assets.
The goal is to raise a trillion reais (around $260 billion), which would be used to pay down steep public debt and refill near-empty state coffers.
The plan has become more urgent as Brazil's debt has risen from 56 percent of gross domestic product in 2014 to more than 76 percent this year. The World Bank forecasts it could go to 140 percent of GDP in 2030 if drastic measures are not taken.
More:
http://www.digitaljournal.com/news/world/obstacles-litter-privatization-path-in-brazil-under-bolsonaro/article/538946