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Brazil posts present account deficit of $4.6 billion in October By Reuters

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© Reuters. FILE PHOTO: Brazilian actual notes are seen on the Financial institution of Brazil Cultural Heart (CCBB) in Rio de Janeiro, Brazil November 17, 2017. REUTERS/Pilar Olivares/File Picture

BRASILIA (Reuters) – Brazil’s present account deficit in October got here barely decrease than anticipated, central financial institution information confirmed on Friday, within the wake of a greater commerce steadiness surplus and a big drop within the remittance of earnings and dividends.

The deficit was $4.6 billion in October, under a $4.9 billion shortfall forecast in a Reuters ballot with economists.

The commerce surplus rose by $1.2 billion from the identical month in 2021, whereas the issue funds deficit narrowed by $1.1 billion, affected by a 32% lower in earnings and dividends despatched overseas.

12 months-to-date, the present account deficit reached $44 billion, approaching the $46.4 billion deficit recorded for your entire 12 months of 2021.

The info was affected by a methodological evaluate by the central financial institution that elevated the shortfall from final 12 months and this 12 months to September.

In the meantime, overseas direct funding in October totaled $5.5 billion, decrease than the $6.5 billion projected by economists.

12 months-to-date, nevertheless, FDI reached $74 billion, handily surpassing the full-year 2021 quantity of $46.4 billion.

The central financial institution has attributed the advance to the resumption of tasks that had been postponed because of the pandemic and better demand for investments in sectors resembling power, know-how, and oil and gasoline.

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