Temer says Brazil on track to restore investment, credibility

Temer says Brazil on track to restore investment, credibility

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BRASILIA Interim President Michel Temer said on Friday that the end of the impeachment trial of suspended President Dilma Rousseff, expected next month, will boost investment in Brazil as his administration strives to restore the country’s credit standing.

Temer told foreign reporters he expects the Senate to wrap up the trial of Rousseff by August 25 or 26, and the sooner he is confirmed as Brazil’s president for the rest of her term through 2018 the better for the country.

“The world needs to know who the president of Brasil is. The impasse weakens the country,” he said.

Temer, who was Rousseff’s vice president until he took over when she was put on trial in May, is confident the Senate will convict her of breaking budget laws and positively assess his achievements for Brazil in more than two months at the helm. Rousseff has denied wrongdoing.

Temer said he expects his proposed cap on public spending to clear Congress this year, but deeper reforms of the pension system and labor laws will be hard to pass and need more time.

(Reporting by Lisandra ParaguassĂș; Editing by Frances Kerry)

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