Alonso Soto and Tiago Pariz – Reuters, 07/24/2012
BRASILIA, July 24 (Reuters) – A rebound in Brazil’s foreign direct investment in June fully covered a widening current account deficit, central bank data showed on Tuesday, underscoring the resilience of foreign investment even as the international and local economy slow sharply.
Brazil posted a current account deficit of $4.419 billion in June, slightly above market analysts median forecast of $4.8 billion. The figure also surpassed the $3.47 billion gap posted in May.
The current account is a broad measure of a country’s foreign transactions, including trade in goods and services, interest payments, and profits and worker remittances.