Investment rebound expected to end Brazilian recession, boost Temer

A rebound in spending on machinery and equipment by Brazilian companies should lead Latin America’s largest economy out of a deep recession in the coming months, providing a much-needed boost for new center-right President Michel Temer.

A recent survey of chief financial officers by the local American Chamber of Commerce showed nearly half of the companies had put investment and strategic decisions on hold during the impeachment of leftist President Dilma Rousseff.

The Senate’s dismissal of Rousseff on Wednesday on charges of breaking budget rules could unleash a wave of new investments under her successor Temer, her former vice president who has served as interim president since she was suspended in mid-May.

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