São Paulo – Banks are expecting the Brazilian economy’s growth to pick up in 2013, according to a survey released this Thursday (25th) by the Brazilian Federation of Banks (Febraban, in the Portuguese acronym). According to the survey, which polled analysts from 31 financial institutions, the Gross Domestic Product (GDP) is expected to grow by 1.5% this year and 3.9% in 2013.
“The recovery expected in 2013 is widespread, but the highlight is industry, due to the impact of recently implemented actions,” according to the federation’s report on the survey data.
The document also claims that insolvency is expected to drop and credit is expected to grow, as a consequence of stimulus measures implemented recently by the government. The general credit market is expected to grow by 16.1% this year.
*Translated by Gabriel Pomerancblum
