BRASILIA, Jan. 8 (Xinhua) -- Brazil's government plans to privatize or close about 100 state-owned companies, Infrastructure Minister Tarcisio Gomes de Freitas said on Tuesday.
Among the companies are affiliates of state oil giant Petrobras, the Bank of Brazil, and the National Economic and Social Development Bank (BNDES).
The objective of the privatization drive, which could take place in the coming months, is to cut public-sector spending and increase funding, Freitas said following a cabinet meeting with President Jair Bolsonaro.
"We are talking not just about privatization but also closing companies that no longer make sense. The liquidation will lighten the budget and there will be money to invest in other priorities," said Frietas.
The government will work more closely with the private sector to spur investment in national infrastructure projects, he said.
"There are no more fiscal resources. To supply infrastructure we will have to depend to a large degree on private-sector initiative, so we will focus on concession, on public-private partnerships," said the minister.