São Paulo – The credit supply made available last year by the financial institutions increased 11.3% over 2013, at a slower pace than the 12% expected by the government, stated the Central Bank this Thursday (27). At the end of last year, the stock of loan operations amassed R$ 3.022 trillion (US$ 1.17 trillion). For the current year, the same target of increasing the credit supply in 12% was kept.
The head of Central Bank’s economic department, Túlio Maciel, said that it’s been a couple years that a trend of lower growth of loan operations was established and that this year should see a reduction of real estate financing. Among the reasons, Maciel pointed out to higher interest rates and real estate prices.
In 2014, the sum of credit operations was 58.9% of the Brazilian Gross Domestic Product (GDP). In 2013, it stood at 56% of the GDP.
*Translated by Sérgio Kakitani
