December 15, 2016 / 7:52 PM / 2 years ago

Brazil's Temer unveils stimulus steps to kickstart stalled economy

BRASILIA, Dec 15 (Reuters) - Brazilian President Michel Temer on Thursday unveiled measures to reduce bureaucracy and raise productivity to help pull Brazil from its worst recession on record amid growing popular discontent.

Temer said registration of new businesses and tax payments would be streamlined, companies would be allowed to pay back tax in installments, real estate credit would be stimulated, credit card interest rates lowered and credit for small and medium companies expanded. He announced the measures flanked by Finance Minister Henrique Meirelles and Congressional leaders. (Reporting by Alonso Soto; Editing by Andrew Hay)

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