Brazil’s Privatization Push

us newsRIO DE JANEIRO — With the way Brazil’s economic crisis is going for many Brazilians, lining up to play the scratch-off lottery seems like a good bet – at least until even the lottery itself gets touched by fiscal woes. The Brazilian government recently announced that the state lottery may soon be sold.

It’s not just the lottery that is going the way of deregulation. In August, Brazilian President Michel Temer announced reforms that will privatize a vast number of sectors in the country, from the lottery to the electric company. His privatization package is the biggest the country has seen in two decades. But will that be enough to turn around Brazil’s economic stagnation?

The administration certainly hopes so. The government’s approval ratings are at rock bottom. A recent poll found that zero – zero – percent of Brazilian millennials approve of Temer’s leadership. At the same time, a steady stream of corruption scandals reveal that the richest, most powerful Brazilians seem to be doing just fine, as investigations turn up suitcases full of cash and beachside condos. …

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