November 24, 2016 / 1:00 PM / in 3 years

Brazil's president sees easy approval of spending cap

BRASILIA, Nov 24 (Reuters) - President Michel Temer said on Thursday he has strong political backing for a federal spending ceiling and other measures to control Brazil’s budget deficit that will help the country soon overcome recession.

“There is extraordinary support for the spending cap in Congress ...I see widespread support for the measures we are taking,” Temer said in a speech. The 20-year spending cap has been passed by the lower house and is expected to clear the Senate by mid-December. (Reporting by Anthony Boadle; Editing by Lisa Shumaker)

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