Economics
Billionaire Retailer Wants to Wake Up Brazil With Presidential Bid
- Flavio Rocha says moral issues will decide the election
- Businessman joins plethora of market-friendly candidates
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With scores of Brazilians still reeling from recession and dependent on a heavy but generous government hand, billionaire and presidential hopeful Flavio Rocha proposes a radical overhaul of the state.
"I’d sell all the state companies," Rocha said in a recent interview at Bloomberg’s offices in Sao Paulo. That would include the only long-term lender in the country, BNDES, and Latin America’s largest bank by assets, Banco do Brasil SA. "We need to redesign the state."