Brasília – With the recession, credit in Brazil this year is expected to present the first decline ever registered by the Brazilian Central Bank (BC). The forecast is for a 3% deficit in bank credit operations this year, the first negative result of the historical series that started in March of 2007.
Year-over-year up to November, the decline stood at 2.3%, which drove BC to revise its previous forecast of a 2% fall. For next year, the estimate is for a recovery of credit, with a surplus of 2% expected.
According to the head of BC’s Economic Department, Tulio Maciel, this deficit is linked to the economic downturn.
*Translated by Sérgio Kakitani