Brazil's primary surplus up to 12.4 bln reais in October

BRASILIA Fri Nov 30, 2012 7:33am EST

BRASILIA Nov 30 (Reuters) - Brazil's consolidated primary budget surplus rose sharply in October to 12.398 billion reais, the central bank said on Friday.

The primary budget surplus is a gauge closely watched by investors because it measures a country's ability to service its debt. It represents the excess of revenue over expenditures before interest payments are taken into account.

The government has said it will resort to alternative accounting methods to reach its primary surplus target of 138.9 billion reais this year.