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![Temer's post-Rousseff presidency has been rocked by demonstrations and protests against austerity reforms amid continuing graft allegations [Xinhua]](http://thebricspost.com/wp-content/uploads/2016/09/258896654_8-e1474811672333.jpg)
Temer’s post-Rousseff presidency has been rocked by demonstrations and protests against austerity reforms amid continuing graft allegations [Xinhua]
But it’s a tough sell as the government continues to be battered by a series of negative economic reports.
On Wednesday, economists downgraded their forecasts for growth next year yet again, saying it will likely expand by less than one per cent.
The economy in 2016 contracted by about three per cent as the worst recession in nearly a century continues to dash hopes of a recovery.
Brazil’s economy will probably grow less than 1 per cent in 2017, economists agree.
And in a further blow to Temer’s administration, state statistics firm IBGE also announced on Wednesday that the economy contracted for the seventh consecutive time – 0.8 per cent in Q3 from the prior quarter.
The agricultural and industrial sectors were performing worse than last year, IBGE said. Exports fell 2.8 per cent, while imports dropped 3.1 per cent in third quarter.
Unemployment figures showed that more people were losing their jobs and unable to find work.
The Labor Ministry last week said that the economy dropped over 74,000 payroll jobs in October.
Year-to-date, the economy has lost more than 800,000 jobs.
While some in Temer’s administration blame his predecessor Dilma Rousseff’s policies for the continued stubborn recession, the president is still seeking to push through his plans to overhaul the economy by freezing budget spending in 2017 for the next 20 years and reforming the pension regimen.
These austerity measures are likely to prove unpopular with the general populace, however.
The BRICS Post with inputs from Agencies
