By Dow Jones Business News,
December 27, 2013, 08:28:00 AM EDT
By Gerald Jeffris
BRASILIA--Brazil's central government surplus widened in November amid a strong jump in extraordinary revenue
collection, putting the government closer to meeting its year-end budget-surplus target.
The federal treasury Friday reported a central government surplus of 28.84 billion Brazilian reais ($12.24 billion),
up from a BRL5.6 billion surplus posted in October. The November result, however, came in slightly lower than median
market forecasts of about BRL30 billion.
The latest central government surplus consisted of a BRL34.17 billion treasury surplus, a central bank deficit of
BRL346 million and a social security administration deficit of BRL4.98 billion.
The treasury said the November result was increased by BRL20.4 billion through the collection of back taxes from the
government's Refis tax-recovery program and by BRL15 billion from a signing bonus on the recent concession auction of
the country's Libra offshore oil field.
With the latest result, the central government has posted a surplus so far this year of BRL62.4 billion, or about 1.9%
of gross domestic product. That was up from BRL60.2 billion posted in November 2012 and represented 83% of the central
government's year-end budget-surplus target of BRL73 billion.
The treasury, meanwhile, reported revenue through November were up 12% compared with last year, while spending rose by
The central-government figures reported Friday are a key component of the country's consolidated public sector
accounts result, scheduled for release by the central bank later in the day.
-Bruno Lourenco contributed to this article.
Write to Gerald Jeffris at email@example.com
(END) Dow Jones Newswires
Copyright (c) 2013 Dow Jones & Company, Inc.
This article appears in: