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Financial News: BRAZIL: To Cover The Fiscal Deficit Is Not

BRAZIL: To Cover The Fiscal Deficit Is Not Privatization's Purpose - Temer

08/27/2017 - 19:02:00 (RTTNews)

(RTTNews) - The privatization of 57 state assets announced by the Brazilian government recently does not aim to reduce the fiscal deficit, President Michel Temer said in a video posted on social networks.

"With this move, [...] our goal is not to cover the fiscal deficit, but to create jobs, generate income and offer a better service to the people," he said.

"We are talking about highways, ports, airports and transmission lines that will be granted to the private initiative. What does that mean? That means they will work best for you. And the state will receive billions to invest in what really matters: health, safety, infrastructure and education," Temer said.

The Brazilian government announced this week its intention to privatize Eletrobras, the Mint, the Lotteries, 14 airports, 15 port terminals, highways, and to auction oil exploration areas and energy distributors.

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