Brazil Lays Out Bold Targets to Privatize and Balance Budget

Brazil’s Economy Minister Paulo Guedes on Wednesday laid out bold targets for selling off state assets and balancing the budget.

The University of Chicago-trained economist said on Bloomberg Television in Davos that revenue of $20 billion this year from privatizations as well as a pension reform would help slash the budget deficit from currently 7 percent of gross domestic product to zero.

“We won’t balance it permanently, for that we’ll need reforms,” Guedes said in the interview.

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