Federal collection grows 18.5% in March and is a record for the month, says Brazil Revenue Service

RIO DE JANEIRO, BRAZIL – The federal collection recorded real growth of 18.5% in March over the same month last year, totaling R$137.9 (US$24.6) billion, the highest value for the month of the series of the Federal Revenue Service, which begins in 2007, showed data released on Tuesday.

The result came above the expected collection of R$126.2 billion, according to a Reuters poll of analysts.

In the first three months of the year, the accumulated collection advanced 5.64% in real terms to 445.9 billion reais, also a record for the period.