Brazil's central government Februry budget surplus down

Brazil's property central government primary budget surplus fell sharply to 5.03 billion reals ($2.88 billion) in February from 15.35 billion reals in January, the National Treasury said on Friday.

Profits rose from 3.5 billion reals in February 2007.
Strong decline was due to seasonally higher tax revenues, and one of the dividend income in January, the Treasury said.
The central government in the primary budget surplus for the first two months of this year stood at 4.59 per cent of gross domestic product, compared to 3.83 per cent of GDP in the same period a year ago.
The primary surplus includes the costs the Treasury, the central bank and the social security system, but excludes interest payments on debt and transfers to state and local governments.

The central government surplus feeds into the consolidated public-sector primary surplus, which is closely tracked by investors as a measure of Brazil's property ability to pay its debts. The consolidated primary surplus, due out on Monday, also excludes interest payments. ($1=1.744 Brazilian property reals)