President-elect: Public banks not to be privatized

President-Elect Jair Bolsonaro said Thursday (Nov. 29) that privatizing Caixa Econômica Federal and Banco do Brasil—Brazil’s two large public banks—is not on the radar in the coming administration.

“All privatization plans must be responsible. It’s not a matter of tossing everything up and getting rid of it. Some privatizations will occur. Other companies are strategic, and will not be privatized. Banco do Brasil and Caixa are not on our radar,” he declared.

The president-elect also said he plans to bring forward another pension reform next year and described the proposal presented by the current government as aggressive towards workers.