Brazil beats 2011 primary budget surplus goal

Brazil's government met its public sector primary budget surplus goal in 2011, the Central Bank reported Tuesday.

The December primary surplus fell to R$1.9 billion from R$8.2 billion in November. But, for the full year, the figures brought the 12-month primary surplus to R$128.7 billion, or 3.11% of gross domestic product.The government's target for the full year was BRL128 billion.

Public sector net debt in December was steady at R$1.51 trillion, or 36.5% of GDP, roughly stable from November, the bank said.