Brazilian president in office cancels privatization of state-owned companies
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The new President of Brazil, Luiz Inacio Lula da Silva, who took the oath the day before, canceled the privatization of large state-owned companies, the G1 portal reports. The privatization was announced by his predecessor Bolsonaro.
The president has reportedly decided to cancel the privatization process for eight state-owned companies. Among them are oil and gas Petrobras and postal Correios.
On Sunday, Lula da Silva again took office as head of state (he led Brazil in 2003-2011).
On October 30, the second round of the presidential elections took place, in which Lula da Silva won by a narrow margin against the incumbent president, Jair Bolsonaro.
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