Romeu Zema, a presidential candidate for the Novo party, said he intends to privatize Petrobras and other state assets to reduce Brazil's fiscal burden.
The proposal represents a significant shift in the country's economic approach, targeting the complete privatization of major state-controlled entities to attract market investment and curb public spending.
In an interview broadcast by g1 and GloboNews on Thursday, Zema said his program of extensive privatizations would begin with the state oil company, Petrobras. He also identified Banco do Brasil as a target for privatization [2, 4]. Zema said these moves are part of a broader strategy to dismantle the state's role in the economy.
To achieve these goals, Zema proposed a "fiscal shock" designed to streamline government operations. He said this measure could save approximately R$ 1 trillion over 20 years [1]. This financial target serves as the cornerstone of his market-friendly platform for the 2026 election [2].
Zema pointed to his previous tenure as governor of Minas Gerais as evidence of his commitment to this model. He said he privatized nearly everything in the state, noting that the only remaining state asset he did not sell was the utility company Cemig [3].
"Só faltou vender a Cemig," Zema said in a separate comment regarding his record in Minas Gerais [3].
The candidate's platform emphasizes a reduction in the size of the state to stimulate private sector growth. By targeting the largest state-owned enterprises, Zema aims to signal a definitive break from previous economic policies that maintained government control over strategic energy and financial sectors [1, 4].
“Zema proposed a "fiscal shock" designed to streamline government operations.”
Zema's platform positions the Novo party as the primary vehicle for neoliberal economic reform in the 2026 election. By targeting Petrobras and Banco do Brasil, he is challenging the traditional Brazilian state-led development model. The success of this platform depends on whether voters prioritize fiscal austerity and market efficiency over the perceived security of state-owned strategic assets.
