On August 31，2016，former Brazilian Vice President Michel Temer succeeded Dilma Rousseff，who was impeached by Congress，and became the president of Brazil. Since Temer has spent only two years and four months in office，and considering the chaotic situation of Brazil’s political and economic circumstances，many analysts believed that the Temer government would likely be only a weak transitional government，with low possibility of domestic economic transformation taking place. However，since taking office，Temer had introduced three major reforms：cutting government expenses，social security reform and the privatization of state-owned companies. What major changes have been made in Brazil’s political and economic fields？How do we assess the effectiveness of the Temer government’s economic reforms？What breakthroughs did the Temer government make，and what problems were left yet unsolved？This paper attempts to analyze major economic reforms promulgated by the Temer government，and to answer the above questions in light of the current status of domestic political and economic development in Brazil.