Brazil’s central government records a larger-than-expected budget surplus

BRASILIA, Dec 29 (Reuters) – Brazil’s central government reported a primary budget surplus of 3,872 million reais ($ 680 million) in November, the Treasury said, well above expectations by analysts polled by Reuters, which in average predicted a positive result of 1.1 billion reais.

That was the largest budget surplus in November since 2013, when the government registered one that today would reach 45,559 million reais when adjusted for inflation.

Revenues during the period rose 4.4% compared to the same month of the previous year to 130,863 million reais. That figure was driven by a significant increase in taxes on income and credit transactions.

Meanwhile, central government spending fell 12.7% to R $ 126.991 billion, thanks in large part to a decrease in costs associated with treating the COVID-19 pandemic.

(Reporting by Bernardo Caram and Isabel Versiani; Written by Gram Slattery, Edited in Spanish by Javier Leira)

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