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The government's economic team reviewed its policy for state-owned companies and will now stop privatizing at least 12 companies.
Today, there are 134 state-owned companies, with the 18 dependent on the Treasury demanding around R$ 20 billion a year. Minister Paulo Guedes' intention is to sell the companies to reduce public debt. Today, the value of state-owned companies corresponds to 27% of the public sector's net debt. In 2010, the ratio reached 60%. The government is still studying the fate of other companies. This is the case of Correios, which already had the analysis on the sale released by Bolsonaro.
In addition to Petrobras, Banco do Brasil, Caixa Econômica Federal and the National Bank for Economic and Social Development (BNDES), the Ministry of Economy included eight of the 18 state-owned companies that depend on Treasury resources to survive on the list of companies that will not be sold.
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Among them are companies in the military sector such as Amazônia Azul Tecnologias de Defesa (Amazul). Linked to the Navy, it develops the nuclear-powered submarine. The project started in 2012 and was supposed to be completed in 2025 — with the delay, the completion was postponed to 2029.
Another to be maintained is the Empresa Gerencial de Projetos Navais (Emgepron), created in 2013. Also linked to the Navy, it manages orders for vessels, naval repairs and sells goods in the sector. The Brazilian Military Material Industry, which manufactures and sells defense and security products to customers such as the Armed Forces, police and private customers, will also remain public.
Bolsonaro has also positioned himself against the sale of those considered strategic for the country. Embrapa, linked to Agriculture, will also be maintained. The interpretation is that companies like this generate value that is not just measured by profit or loss.
There are a number of other companies considered by the government to be important to carry out actions related to public policies and which, therefore, will be maintained at this time. They are the Brazilian Company of Hospital Services (Ebserh), the Hospital de Clínicas de Porto Alegre and the Hospitalar Conceição Group. The Mineral Resources Research Company (CPRM), linked to the Ministry of Mines and Energy, also remains state-owned.
Other state-owned companies may have a different purpose for the sale, such as Empresa Brasil de Comunicação (EBC). Recently, Bolsonaro said in an interview that it should be extinguished.
Companies saved from privatization linked to Defense, Research and Hospitals
- Amazul (Blue Amazon Defense Technologies)
- Emgepron (Naval Project Management Company)
- Imbel (Brazilian War Material Industry)
- Embrapa (Brazilian Agricultural Research Corporation)
- CPRM (Mineral Resources Research Company)
- Ebserh (Brazilian Company of Hospital Services)
- HCPA (Porto Alegre Clinical Hospital)
- GHC (Conceição Hospital Group)
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