Brazil's new president promises to draw BRL 7 billion in investments

Thursday, 03 January 2019 00:12:33 (GMT+3)   |   Sao Paulo

Brazil’s new president, Jair Bolsonaro, has promised this week to privatize several local assets. The president officially took office on January 1, 2019, and this week he officially promised to privatize railways, airports and port terminals.

“We’ll rapidly draw initial investments of BRL 7 billion,” Bolsonaro said. “With the investors’ confidence, under favorable conditions for the population, we’ll rescue the initial development of Brazil’s infrastructure sector.”

Bolsonaro, hailing from a far-right political party, has been labeled by both domestic and foreign media as the “tropical Trump.”

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