Brazil announces ambitious privatization package

Source: Xinhua| 2017-08-24 12:58:37|Editor: Xiang Bo
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RIO DE JANEIRO, Aug. 23 (Xinhua) -- The Brazilian government announced on Wednesday its largest privatization package since the 1990s to bolster investment in order to revive the economy.

A total of 57 companies were listed in the package, including the Brazilian Mint which prints the country's currency and passports, 14 airports, 15 port terminals, and the largest energy company in Latin America, Eletrobras, according to the statement.

Most auctions are expected to take place in 2018. With the privatization, the government aims to raise some 44 billion reals (14 billion U.S. dollars) and help mitigate the deficit.

The government recently proposed that the primary deficit target should be raised from 129 to 159 billion reals (41 to 50.6 billion dollars) for this year, which needs approval of the Congress.

In the first half of 2017, the central government registered the worst primary deficit in history, which reached 56 billion reals (17.8 billion dollars), up from 36 billion reals (11.4 billion dollars) in the same period in 2016.