The process of State Reform in Brazil started up in the beginning of the nineties following the experience of other Countries, including Argentina, Chile and Mexico. As in these countries, import tariff rates were reduced, administrative import controls lifted, several sectors were deregulated and an incisive privatization program was introduced in 1990 through the Law 8031/90 with the following targets: I) change the strategic position of the Brazilian State; II) reduce public debt; III) recover investments; IV) infrastructure modernization to improve competitiveness; V) concentrate State action in social policies; VI) strength capital markets.

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