Much of Brazil’s plan to cut as many as 10 ministries by the end of the month is little more than re-branding, without saving the government much money, according to a cabinet member participating in the discussions.
There are currently 38 officials in Brazil with the status of minister, including the heads of nine secretariats and four institutions. Not only would the proposal generate few savings, but stripping the Central Bank of its ministerial status may raise questions about its operational independence and legal protection for bank president Alexandre Tombini, according to Carlos Kawall, chief economist at Banco Safra and former Brazil Treasury Secretary.
Brazil Energy Insight 
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