Brazil's federal tax revenue down 6.7 percent in January
BRASILIA Feb 25 (Reuters) - Brazil collected 129.385 billion reais ($32.8 billion) in federal taxes in January, the government said on Thursday, down 6.7 percent from a year earlier when adjusted for inflation and in line with market expectations.
The country collected 122 billion reais in federal taxes in December, according to Brazil's tax agency.
Plummeting tax revenue during the nation's recession has eroded Brazil's fiscal accounts, widening a record deficit that has cost the one-time emerging-market star its coveted investment-grade rating.
The government collected 1.221 trillion reais in 2015, down 5.62 percent from the previous year and the lowest since 2010.
January tax revenue was expected to total 129 billion reais, according to the median forecast in a Reuters poll of 12 economists.
($1 = 3.9415 Brazilian reais) (Reporting by Alonso Soto; Editing by Lisa Von Ahn)
© Thomson Reuters 2017 All rights reserved.