Brazil central government posts primary surplus of $15.95 bln in January

Record federal tax collection in January helped propel Brazil’s primary surplus to 79.3 billion reais ($15.95 billion) in the month, compared to a positive balance of 78.9 billion reais in the year-ago month, Treasury data showed on Wednesday.

The revenues fed into the Treasury account, which saw a surplus, as did the Central Bank account. The two combined saw a 96.0-billion-real surplus against the Social Security account’s deficit of 16.7 billion reais in the month.

The federal tax collection funds were a record for any month, at 280.6 billion reais.

“Compared to January 2023, the primary result is the result of a combination of a real increase of 3.0% (6.9 billion reais) in net revenue and a real increase of 6.8% (10.1 billion reais) in total expenditure,” said the Treasury.

Source: Nasdaq

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