RIO DE JANEIRO, BRAZIL - Brazil's government posted a primary budget surplus in January of R$43.2 billion (US$7.8 billion), Treasury figures showed on Thursday, down from the same month last year but still the second highest ever for that particular month.
The surplus for the central government, which excludes interest payments, exceeded the 40.6 billion reais median forecast in a Reuters poll of economists.
January is traditionally a month of surplus, due to strong personal income tax and corporate social contributions. The highest-ever January surplus was last year, at 44.1 billion reais.
Despite . . .
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