BRASILIA Jan 30 Brazil failed to reach its
primary budget surplus goal last year in an expected miss that
has raised worries about the government's commitment to the
fiscal discipline that helped the Latin American giant secure a
decade of economic stability.
Brazil posted a primary surplus of 104.951 billion reais
($53 billion) last year, the equivalent of 2.38 percent of gross
domestic product, according to central bank data released on
Wednesday. That is way below the annual target of 139.8 billion
reais, or about 3.1 percent of GDP.
For months officials have said the country was not going to
meet the target after the government handed out billions of
dollars in tax incentives last year to revive an economy
struggling with high production costs and a fragile global