Brasília – After running deficits for two straight months, savings accounts in Brazil saw a net surplus of BRL 3.98 billion last March. The Central Bank said this was the strongest result for a March since 2013.
Despite that, withdrawals still outweigh deposits year-to-date in 2018, with BRL 1.93 billion in net withdrawals in Q1. Still, this is the best result since BRL 5.39 billion in Q1 2014.
Up until 2014, more cash was going in than out from savings accounts in Brazil. That year, net deposits amounted to BRL 24 billion. In 2015, as recession set in, investors began pulling money out of their savings accounts to pay their debts, as income dwindled and unemployment mounted.
Translated by Gabriel Pomerancblum
PUBLICIDADE
