October 17, 2019 / 12:17 PM / a month ago

Brazil's oil rights auction to cut 2019 government deficit below $24 billion: treasury

(Reuters) - Brazil’s auction of oil prospecting rights may reduce the government deficit in 2019 to below 100 billion reais ($24.10 billion), Treasury secretary Mansueto Almeida told GloboNews TV channel on Thursday.

According to Mansueto, the Brazilian government expects to receive 48 billion reais from the transfer of rights oil auction.

Reporting by Marcela Ayres in Brasilia; Writing by Gabriela Mello; Editing by Andrew Heavens

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