Brasília – The Brazilian Central Bank (BC) has maintained its projection of growth in credit operations this year at 9%. As of last August, credit operations amounted to R$ 3.132 trillion (US$ 780.2 billion), up 0.7% month-on-month and 9.6% in the 12 months ended August. Credit is projected to amount to 56% of the Gross Domestic Product (GDP), the sum of all goods and services produced in the country – same as in the BC’s previous estimate.
Unregulated credit, where banks are free to invest the funds raised on the market and set interest rates, should be up 5%, the same estimate as last June’s. The growth forecast for regulated credit – with loans set by the government, primarily for housing, farming and infrastructure – has been kept at 14%.
*Translated by Gabriel Pomerancblum
