Business

Before talking about privatization, Brazil needs to learn about its state-owned companies

Before talking about privatization, Brazil needs to learn about its state-owned companies
Over 70% of Brazilians don’t want Petrobras to be privatized.

For decades, privatization was a dirty word in Brazil. Even after several scandals which unveiled corruption schemes in state-run companies, only 17 percent of Brazilians are in favor of privatizing public companies, according to a survey by Ipsos.

Brazil has more state-owned companies than any other Latin American country: 418, of which 138 are federally owned. When compared to member states of the Organization for Economic Cooperation and Development (OECD), Brazil’s numbers seem even more incredible. Hungary, which comes in second place, has 370 such firms, while Mexico has 78...

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