Brazil posted a current account surplus in March of $1.397 billion, its first surplus in overseas accounts since May of last year, the Central Bank said Tuesday. February saw a deficit of $935 million, and Brazil is still running a current account deficit on a 12-month basis but it is shrinking and will likely turn into a net surplus by next year, according to economists. The 12-month deficit as of March was $20.6 billion, down from $22.6 billion as of February. Meanwhile, Foreign direct investment produced another plus for Brazil’s economy in March. FDI rose from $5.3 billion in February to a hefty $7.1 billion in March for a 12-month figure of $85.9 billion. Economists believe investment is on the upswing ahead of a hoped-for economic recovery.
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