Brazil federal tax revenues plunges in November from year ago
BRASILIA Dec 23 (Reuters) - Brazil's federal tax revenue fell a whopping 17.29 percent in November from a year earlier in real terms to 95.5 billion reais ($1.39 billion), tax agency data showed on Wednesday, highlighting the challenges the government faces to rebalance its accounts amid a deepening recession.
Economists expected the tax take to total 100 billion reais, according to the median forecast of a Reuters poll of 10 economists. The country collected 104 billion reais in federal taxes in October, according to the agency.
The drop in tax revenue on the year, combined with the government's inability to pass measures to raise extra income, have raised doubts that the administration will be able to eke out a small primary surplus next after two years of deficits.
($1 = 3.9685 Brazilian reais) (Reporting by Alonso Soto; Editing by Chizu Nomiyama)
© Thomson Reuters 2016 All rights reserved.