Brazil’s Economy Minister to Eliminate Deficit with Reforms and Privatizations

The social security reform proposal is expected to be presented to Congress by late February where it will need to be approved by the Chamber of Deputies and the Senate.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Much of Brazil’s deficit may be eliminated with swift, effective measures, according to Economy Minister Paulo Guedes. Among the measures the Brazilian government is promising to implement are a social security reform, oil concessions and privatizations of state-owned companies.

"More than half of the deficit we will eliminate with the pension reform. We have many concessions for oil. The other half of this, we will eliminate this year with oil concessions and a huge list of privatizations. So, in terms of money, we will clear the deficit this . . .

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