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Brazil’s Bolsonaro cites difficulty of selling state firms in explaining privatization delays

Brazilian President Jair Bolsonaro said on Thursday that selling off state companies was “very complicated” and the top ones require Congressional approval, explaining delays in his policy of privatizations. Privatization secretary Salim Mattar resigned on Tuesday, and economy minister Paulo Guedes suggested he was leaving because of the slow pace of privatizations so far, which has been affected by the economic slowdown caused by the coronavirus pandemic. Guedes still hopes to privatize state power company Eletrobras, the postal service known as Correios, the Santos Port Authority and Pré-Sal Petróleo S.A.

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