Brazil posts positive balance for external accounts in May

The country posted a positive balance in its external accounts for the second consecutive month, the Central Bank announced today (Jun. 24). In May, the surplus in current transactions—trade in goods and services, plus income transfers between Brazil and the world—added up to $1.2 billion. In April, this balance reached $412 million.

For the five first months of the year, the country saw a deficit of $5.966 billion—a figure considerably lower than its 2015 counterpart, $35.325 billion.

The Central Bank slashed the gap forecast for this year from $25 billion to $15 billion, and hopes to address it through investments and loans from overseas, which are expected to amount to $70 billion, against a previously predicted $60 billion.

Translated by Fabrício Ferreira