Brazil’s Vice President aims at more market-friendly policies

Brazil’s Vice President Michel Temer arrives at news conference in Brasilia, Brazil April 11, 2016.

The rebalancing of Brazil’s depleted public accounts would be done gradually and accompanied with policies that create jobs and raise income under a possible government of Vice President Michel Temer, his top economic adviser told Reuters on Wednesday.

Temer could become Brazil’s next leader in coming weeks as a growing number of disgruntled lawmakers move quickly to impeach leftist President Dilma Rousseff over accusations she broke budget laws.

Wellington Moreira Franco, a confidant of the vice president and coordinator of his party’s economic plan, said the biggest challenge of a Temer administration would be to shore up the country’s finances.

“That fiscal rebalancing will have to be accompanied with incentives to generate jobs and raise income,” said Franco in the offices of Temer’s Brazilian Democratic Movement Party (PMDB) in Congress. “It has to be a gradual adjustment … if not you risk suffocating the population.”

Read the full story on Reuters.

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