October 17, 2019 / 2:17 PM / a month ago

Brazil government may free up additional funds depending on oil auctions: treasury

SAO PAULO (Reuters) - Brazilian treasury secretary Mansueto Almeida said on Thursday the government may free up additional funds this year depending on the results of upcoming oil auctions.

“A new report on revenues and expenses is expected later in November and, if needed, with good results in (offshore) oil auctions it will be possible to free up additional funds,” he told journalists during Refinitiv’s Brazil Financial Summit in Sao Paulo.

Mansueto added the government expects to present administrative reforms this year, in a push to curb the public sector payroll.

Reporting by Jose de Castro; Writing by Gabriela Mello

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