The Brazilian government posted a fiscal surplus of 46.9 billion reais (US$ 12.5 billion) in January, the central bank said, above forecasts but unchanged from a year earlier. In Brazil, January is traditionally marked by higher tax revenues and lighter spending, so these figures do not change the fragile outlook for public finances, analysts said.
Argentina’s primary surplus rose 103.7% and reached 2.1 billion Pesos (522 million US dollars) during January year-on-year, according to Economy Minister Amado Boudou. Tax revenue in January set a new record of 40.7 billion Pesos due to booming economic growth and rising inflation.