Brazil Launches Ambitious Program To Auction Off Oil, Power, And Infrastructure Concessions

[Judi Lynn]

Source: Bernama (Malaysia)

Brazil Launches Ambitious Program To Auction Off Oil, Power, And Infrastructure Concessions


BRASILIA, Sept 15 (BERNAMA-NNN-MERCOPRESS)--Brazil on Tuesday launched a multibillion-dollar plan to auction off oil, power rights and infrastructure concessions, in an attempt by the new government to bolster private investment in a moribund economy.

The government will sell operating licenses for airports in the cities of Porto Alegre, Salvador, Florianopolis and Fortaleza by the first quarter of 2017. It also plans to sell rights to operate federal roads in the center-west and south regions later next year.

Conservative president Michel Temer has vowed to shift economic policy away from the interventionist policies of his predecessor, Dilma Rousseff, that marred investors' confidence in the once-booming economy.

Rousseff, a populist in her second term as president, was ousted by the Senate in August for breaking budget rules to conceal a massive deficit as the economy spiraled deeper into recession. Brazil is facing its worst recession in eight decades.


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[bucolic_frolic]

1. This is what Trump will do

Total annihilation of public goods

for profits for him and his crony capitalists, domestic and foreign

[malthaussen]

2. Ka-ching! n/t

[ronnie624]

3. "investors' confidence"

It's the emotional security of wealthy capitalists that's truly important, in the overall scheme of things.