As part of sweeping privatization effort

Brazil could privatize lottery by year’s end

Finance Minister Henrique Meirelles said Wednesday the government Brazil may auction off a lottery unit of state bank Caixa Econômica Federal by year-end.
2017-08-24
Reading time 21 seg
Finance Minister Henrique Meirelles said Wednesday the government Brazil may auction off a lottery unit of state bank Caixa Econômica Federal by year-end.

During an event in Brasilia, Meirelles told the press that conversations are still ongoing between the government and Caixa, who owns the lottery service known as Lotex.

Although the country seems to be recovering from the impact of the recession, pro-business president Michel Temer is struggling with a corruption scandal that has impeded support amid a severe budget crisis.

Earlier this month, the government agreed to relax budget targets.

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