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Brazil's Guedes says state companies 'dysfunctional,' should sell all

Published 09/05/2019, 03:15 PM
Updated 09/05/2019, 03:21 PM
Brazil's Guedes says state companies 'dysfunctional,' should sell all

BRASILIA (Reuters) - Brazil's Economy Minister Paulo Guedes said he will propose selling all the country's state-owned companies because they are "dysfunctional" and should be privatized to improve the government's finances.

Speaking on Thursday at a conference in Fortaleza, Guedes said reform of the Brazilian tax system was unavoidable and he favored a value-added tax that states could opt in to or not. He also said there would be no "surprises" regarding changes in income tax.

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