Wednesday, February 29, 2012

Brazil Registers Huge Primary Surplus

The tale of two countries! The Brazilian  Treasury said that the country's primary surplus accounts of the central government in January registered $20.8 billion (about USD $13B), the largest for the month and the second largest in history for all months.

It is second only to the surplus of $ 26 billion recorded in September 2010 when the government received an extraordinary income of $ 31.9 billion due to the process of capitalization of Petrobras.

Treasury secretary Augustin also commented the result of the primary surplus in 12 months, which reached R $ 100.1 billion (2.4% of GDP). "It is evident that we are on the rise with the primary. This is positive because it reflects the great effort that the new economic policy mix is the best, "Augustin said, referring to the term used last year by the economic team to define a strategy for strengthening of fiscal policy to help the Central Bank to reduce interest rates.

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