Bolsonaro approves controversial privatization of Brazil’s Eletrobras

The government expects that the measure will lead to a 6.3% reduction in the energy tariff and bring a profit of R$100 (US$20) billion to the public coffers.

RIO DE JANEIRO, BRAZIL - A few hours after the text was approved by Congress, President Jair Bolsonaro on Tuesday, June 22, sanctioned into law the bill approving an MP (Provisional Measure) that will allow the privatization of Eletrobras, a state-owned company that supplies 30% of the energy generated in Brazil and largest power utility of Latin America.

According to the Presidential Office, the approval comes at the limit of the 190-day period and brings significant benefits . . .

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