Brasília – The Brazilian federal, state and municipal governments posted a combined budget surplus of BRL 27.913 billion (USD 7 billion) in January, after eight straight months in deficit. January 2015 had seen a narrower primary surplus: BRL 21.063 billion (USD 5.324 billion).
The January 2016 primary surplus was the widest since BRL 29.745 billion (USD 7.519 billion) in November 2013. In January 2013, a BRL 30.251 billion (USD 7.647 billion) surplus was recorded. The numbers were released this Friday by the Brazilian (26) Central Bank in Brasília, the federal capital.
The head of the Central Bank’s Economic Department, Tulio Maciel, explained that more “favorable” results are to be expected in January due to higher revenues from collection of corporate income taxes and taxes on auto ownership and real estate levied by regional governments.
An additional source of revenue was the collection of fees concerning the renewal of hydroelectric plants concessions.
*Translated by Gabriel Pomerancblum
