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situation report

Jul 6, 2018 | 16:54 GMT

1 min read

Brazil: Lower House Approves Privatization Bill

What Happened: Brazil's lower house approved a bill that allows state-run utility company Centrais Eletricas Brasileiras SA to sell six unprofitable electricity distribution companies it holds, Reuters reported July 5.

Why It Matters: Brazilian President Michel Temer is looking to get as many pending economic liberalization reforms approved before presidential elections occur in October and a new president takes office in January 2019.

Background: Under Temer, Brazil's government has pushed forward with multiple economic liberalization reforms on energy and trade that have led to unrest among citizens forced to pay more for goods such as fuel.

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