Brazil posts primary surplus of 5.681 bln reais in May
BRASILIA, June 28
BRASILIA, June 28 (Reuters) - Brazil posted a primary budget surplus of 5.681 billion reais ($2.6 billion) in May , central bank data showed on Friday, above market expectations.
The primary budget surplus, which represents the public sector's excess revenue over expenditures before debt payments, was expected at 3.45 billion reais in May, according to the median estimate of 10 analysts polled by Reuters.
Investors watch this gauge closely as it measures a country's ability to service its debt. The government missed its primary surplus target in 2012 and will miss it again this year as a slew of tax breaks aimed at reviving the economy hits revenues.
The country posted a nominal budget deficit of 14.519 billion reais in May.
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