May 22, 2018 / 1:56 PM / in 5 months

Brazil gov't removes Eletrobras privatization from 2018 budget

BRASILIA, May 22 (Reuters) - Brazil on Tuesday scrapped a forecast for 12.2 billion reais ($3.3 billion) worth of revenues from the privatization of power utility Centrais Elétricas Brasileiras SA from the 2018 budget, citing a lower likelihood that those funds materialize this year.

In a news conference, Planning Minister Esteves Colnago said the privatization of Eletrobras, as the utility is known, is still a priority but there is a growing risk that those revenues will only be booked at the start of next year.

$1 = 3.65 reais Reporting by Marcela Ayres; Writing by Bruno Federowski

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