Business

Brazil posts primary surplus in October on repatriation inflows

Brazil posted a primary budget surplus BRPSPS=ECI of 39.589 billion reais ($11.6 billion) in October, central bank data showed on Monday.

The surplus, the first in six months, was above market expectations for a surfeit of 30.5 billion reais thanks to the hefty revenues from a program that gave Brazilians criminal amnesty in exchange for paying taxes and fines over undeclared assets abroad.

(Reporting by Marcela Ayres; Writing by Alonso Soto)

Source: Reuters

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