If Bolsonaro is re-elected, he will privatize Petrobras, says Brazil’s economy minister

RIO DE JANEIRO, BRAZIL – Jair Bolsonaro’s government will continue the reform agenda, including the privatization of Petrobras, in a possible second term. Economy Minister Paulo Guedes made the statement.

“We will privatize Petrobras and conclude several trade agreements. We will do much more than before,” the minister told reporters after attending the World Economic Forum in Davos, Switzerland.

Guedes said the government is eager for reform, but the pandemic ultimately prevented the agenda from moving forward in Congress as he would like.

The minister hopes that if Bolsonaro is re-elected, there will be more congressmen with a center-right profile in the country.

A PoderData poll conducted April 24-26, 2022, shows that half of the Brazilian population (50%) believes that the state should continue to own Petrobras. Another 33% believe that the state-owned company should be sold, while 17% could not give an answer.

The rates fluctuate within the margin of error of 2 percentage points more or less since the last survey in the March 27-29, 2021, round, when 54% opposed privatization and 30% were in favor.

For the full picture, see our Brazil Tax Reform: Complete Guide.