Brazil’s Congress Delays Power, Oil Auctions

A Brazilian government plan to sell billions of dollars in national energy assets to reduce the country’s deficit has hit a roadblock.

On Tuesday, Congress’ lower house postponed until July 3 a vote to fast-track a bill that could help attract investors to power distributors that provide lighting for 13 million Brazilians. It also delayed taking up a separate proposal that would pave the way for a 100 billion reais ($26.1 billion) oil auction. The bills would need Senate approval and to be signed into law by the president.

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