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Bolsonaro to create superministry of economy in Brazil

Staff Writer |
Brazilian President-elect Jair Bolsonaro plans to create a "superministry" of economy when he takes office in January, his economic adviser said on Tuesday.

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According to Paulo Guedes, economic coordinator of the campaign of Bolsonaro, the current ministries of Finance and Industry and Foreign Trade will be fused into one to streamline the decision-making process.

"There has been a deindustrialization for more than 30 years. We are going to save Brazilian industry," Guedes told reporters following a meeting of Bolsonaro's transition team.

The goal is to reduce by half some 29 ministries by combining others, such as Agriculture and Environment, said Deputy Onyx Lorenzoni, who may become Bolsonaro's next chief of staff.

This move is part of the incoming government's push to cut spending.

To meet the target, Bolsonaro will also lead efforts to pass a pension reform package which has already been put together by the current administration, his aides said.

On Monday, Bolsonaro said in a TV interview that he planned to travel to Brasilia to meet with current President Michel Temer on Nov. 6 to promote the pension reform bill.

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