Brazil

Brazil’s Temer says economy turning around, confidence rising

Brazil's President Michel Temer gestures during a statement at the Planalto Palace, in Brasilia, Brazil March 16, 2017. REUTERS/Ueslei Marcelino
Brazil’s President Michel Temer gestures during a statement at the Planalto Palace, in Brasilia, Brazil March 16, 2017.

The Brazilian economy has begun to turn around, jobs are being created, and business confidence is slowly recovering, President Michel Temer said on Friday, touting initial successes of his recovery plan.

Speaking at a business meeting in Sao Paulo, Temer pointed to the latest cover of The Economist showing Brazil beginning to lift off among seven countries on the rise, and also Moody’s decision on Wednesday to raise the rating outlook for Brazilian sovereign debt to stable from negative.

“This shows confidence is retuning bit by bit,” he said.

Temer touted the “absolute success” of Thursday’s auction of rights to operate four airports, which drew nearly double the minimum bids in a gauge of investors’ appetite for a new…

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