Brazil sells two airports to reduce public debt

(Baonghean.vn) - Folha de Sao Paulo newspaper quoted acting President Michel Temer on July 10 as saying that the Brazilian government will consider selling two airports in Sao Paulo and Rio to address the budget deficit that is expected to increase in 2017.

Congonhas Airport is expected to be put up for sale by the Brazilian government to address the budget deficit. Photo: Reuters.

The article said Mr Temer's government would sell Santos Dumont airport in Rio and Congonhas airport in Sao Paulo.

Congonhas is the second largest airport in Sao Paulo, after Guarulhos Airport, which was previously sold to private investors. Congonhas Airport handles domestic flights, including the busy Sao Paulo-Rio route.

Brazil plans to sell some assets and licenses to private companies to build and operate infrastructure projects to improve the economy and reduce a budget deficit of nearly $52 billion in 2016.

Finance Minister Henrique Meirelles told the newspaper O Estado de S.Paulo on July 10 that the Brazilian government plans to cut government spending by about $26 billion in 2017 to address the budget deficit.

Thanh Hien

(According to Reuters)