Reuters: US Dollar Report: Brazil posts 2.65 bln reais May primary surplus

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Brazil posts 2.65 bln reais May primary surplus Jun 29th 2012, 13:34 BRASILIA, June 29 | Fri Jun 29, 2012 9:34am EDT BRASILIA, June 29 (Reuters) - Brazil posted a consolidated primary budget surplus of 2.653 billion reais in May, the central bank said on Friday. In the 12 months through May, the primary surplus - which excludes debt servicing costs - was equivalent to 2.97 percent of gross domestic product, down from 3.11 percent in April. The primary budget surplus is a gauge closely watched by investors because it measures a country's ability to service its debt. It represents the excess of revenue over expenditures before interest payments are taken into account.

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