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“Privatization is so important because downsizing the government is the only way we can reduce our debt and improve the fiscal situation,” says Jose Roberto Mendonca de Barros, the secretary of national economic policy and one of the most senior members of president Fernando Henrique Cardoso’s economic team. “We continue to have constraints imposed on us constitutionally, and congress continues to make it difficult for us to get through constitutional reforms.” The privatization law came into force in 1990, but only industrial sectors the “easy” privatizations have been sold off. |
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