Brazil's Guedes says privatization program to take off in 2nd half

SAO PAULO: Brazilian Economy Minister Paulo Guedes said on Thursday the government's privatization program should take off in the second half of the year, boosting divestment and helping to cut back debt.

Guedes said during a presentation in a seminar in Sao Paulo that once the pension reform is approved, the government will focus its efforts in the Congress to pass a tax reform, looking to simplify the system and reduce taxes.

A congressional committee approved on Thursday the main text of the pension reform.