Brazilian January surplus record for the monthStaff Writer | February 28, 2017
Brazil’s federal, states and municipalities’ governments registered a primary surplus in January at $44.607 billion, up from $9,107 billion in January 2016, the Central Bank reported.
Brazil Control over spending is more effective
It was the highest result for the month since record-keeping began in December 2001.
The joint chief of the Central Bank’s Economic Department, Fernando Rocha, said surpluses are common in January because administrations have greater control over expenses.
“Tax collection peaks, not all budgets have been approved, and control over spending is more effective.
“ Because new mayors are taking office, some with stricter fiscal control agendas and others ascertaining what situation the municipalities find themselves in, some do auditing,” he said.
But the scenario is unlikely to repeat itself throughout the year. The government’s target for this year is a BRL 143.1 billion ($46.6 billion) primary deficit.
Spending on nominal interest reached $11.881 billion). A nominal surplus of $97.5 million was also registered – the number comprises the primary result plus interest results. ■