Brazilian President Jair Bolsonaro convened his first full-dress Cabinet meeting Thursday, calling on members to cut red tape, reduce expenditure and improve government services. In a brief statement, the President said he expects to obtain “rapid results” from sale of infrastructure concessions. He said sale of concessions in the areas of railroads, airports, and ports should bring some R$7 billion into government coffers within the next few months. He said the concessions sales will demonstrate investor confidence in Brazil while contributing to the nation’s infrastructure development. The government is expected to expand and accelerate an existing concessions and privatizations program, with a strong emphasis on attracting foreign investors. Economy Minister Paulo Guedes said privatization was one of the administration’s main priorities, along with a pension reform designed to reduce government deficits. Bolsonaro’s Cabinet includes only 22 ministers, down from 29 in the administration of former President Michel Temer. Guedes added that other administration priorities will be tax simplification, trade liberalization, and gradual dismantling of rigid labor laws.
Link to government news agency release.