Brazil's central government posts higher-than-expected budget surplus

  • 12/29/2021
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BRASILIA, Dec 29 (Reuters) - Brazil"s central government reported a primary budget surplus of 3.872 billion reais ($680 million) in November, the Treasury said on Wednesday, above a Reuters survey of analysts, which forecasted a surplus of 1.1 billion reais. That was the largest November budget surplus since 2013, when the government posted a surplus that would today come to 45.559 billion reais when adjusted for inflation. Revenue during the period rose 4.4% from the same month a year ago to 130.863 billion reais. That figure was buoyed by a significant increase in income tax revenue and taxes on credit transactions. Central government expenditures, meanwhile, fell 12.7% to 126.991 billion reais, thanks largely to a decrease in costs associated with dealing with the COVID-19 pandemic.

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