January 18, 2019 / 9:17 PM / in a month

In Davos, Brazil's Bolsonaro to tout reforms, trade liberalization

FILE PHOTO: Brazil's President Jair Bolsonaro gestures during a meeting with Argentina's President Mauricio Macri, at the Planalto Palace in Brasilia, Brazil January 16, 2019. REUTERS/Ueslei Marcelino/File Photo

BRASILIA (Reuters) - Brazil’s president will outline his government’s economic reform agenda and plans to increase trade with the rest of the world during a speech at the World Economic Forum’s Annual Meeting in Davos next week, one of his aides told Reuters on Friday.

Jair Bolsonaro, a far-right former army captain who took office on Jan. 1 vowing to end years of graft and crack down on violent criminals, will also pledge to lower rampant bureaucracy in Brazil, which many view as a drag on the country’s stuttering economy, said the source, who asked not to be identified.

Bolsonaro’s 10-minute speech is scheduled for Wednesday, and he will also highlight efforts to simplify the economy, while pledging to give legal certainty to investors and defend the rule of law, the source added.

Bolsonaro is also expected to comment on the situation in neighboring Venezuela, which is undergoing an unprecedented crisis and growing international pressure against the regime of President Nicolás Maduro.

A long-standing critic of Maduro, Bolsonaro has ruled out military action to overthrow the current government, but said this week that a solution for Venezuela will come “briefly,” without giving details of how that would happen.

On his return from Davos, Bolsonaro will settle on a model for its pension reform proposal, his chief of staff, Onyx Lorenzoni, said on Tuesday.

Reporting by Gabriel Stargardter; Editing by Leslie Adler

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