On August 21, President Jair Bolsonaro’s government announced a list of 17 state-owned companies that will be privatized. Of the 17, eight were already included in the privatization program. The minister of the Economy, Paulo Guedes once again proposed the privatization of Petrobras.

Raphael Zaroni, a partner at Zaroni Advogados, said: “The privatization package desired by the current government is aimed at balancing and reducing public services spending through greater competition between the various players in the market (domestic and foreign) and at attracting foreign investment in the country. The intention of the government’s agenda is undoubtedly to accelerate the economy in a more liberal and aggressive manner.”

The state-owned companies that are to be privatized are: Correios; Centrais Elétricas Brasileiras S.A (Eletrobras); Casa da Moeda; Telecomunicações Brasileiras S/A (Telebras); Serviço Federal de Processamento de Dados (SERPRO); Empresa de Tecnologia e Informações da Previdência (Dataprev); Empresa de Trens Urbanos de Porto Alegre S.A. (TRENSURB); Companhia de Entrepostos e Armazéns Gerais de São Paulo (CEAGESP); Centro de Excelência em Tecnologia Eletrônica Avançada (CEITEC); Empresa Gestora de Ativos (EMGEA); Agência Brasileira Gestora de Fundos Garantidores e Garantias (ABGF); Loteria Instantânea Exclusiva (LOTEX); Companhia Docas do Estado de São Paulo (CODESP); Centrais de Abastecimento de Minas Gerais (CEASAMINAS); Companhia Brasileira de Trens Urbanos (CBTU); Companhia Docas do Espírito Santo (CODESA) and Porto de São Sebastião.