Brazil Hopes to Raise R$1 Trillion Selling Off Properties and Assets

Among the properties to be sold are beachfront apartments and luxury automobiles confiscated from drug traffickers.

SÃO PAULO, BRAZIL – Brazil’s federal government has decided to sell off more than 750,000 properties and assets, to gain cash flow. The ambitious plan expects the sales will raise over R$1 trillion (US$ 250 billion), say government officials.

“The Brazilian federal government is perhaps the largest real estate owner in the world,” privatization Secretary Salim Mattar said last week at a seminar. According to Mattar, the government’s goal is to sell most of this real estate to the private sector.

Mattar said that recently the Ministry of Infrastructure handed his office 44,000 railway network . . .

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