Central Bank of Brazil Sees Bigger Offer of Credit in the Country

Brazilian currency, the real Brazil's Central Bank registered growth in credit operations in all Brazilian regions in the period going from December 2008 to February this year, when compared to the previous quarter. However, the rhythm of growth was smaller. The figures were disclosed last week in the institution's Regional Bulletin.

According to the study, in the Southeast, for example, the credit operations in February posted growth of 1.7% over the quarter that ended in November last year, totaling 621 billion reais (US$ 300 million). In the 12 months ending in February, the growth was 30.4%.

In the South, the increase was 1.4% when compared to November 2008 and 29.6% over February last year. In the Northeastern region, the increases were 2.5% and 33.7%, respectively. The North posted growth of 1.1% and 29.3% and the Midwest, 3% and 26.8%.

According to the bulletin, the most critical month for the Brazilian economy was December 2008, at the height of the current international crisis, whereas the first months of this year presented positive performance for most of the Brazilian regions, both in industry and in trade.

The Economic Policy director at the Central Bank, Mário Mesquita, said that the indices point to a gradual recovery of the Brazilian economy. Despite that, he does not believe that the country may, in coming quarters, maintain the same levels of growth as in the period before the financial crisis.

"It is worth recalling that the pre-crisis period for the Brazilian economy was one of very intense growth in demand. The contribution of the domestic demand for growth was very strong. We do not necessarily have to see that trajectory as a sustainable one. There were several elements at the time causing concern. I am not sure if it is very probable for us to return to that rhythm, nor am I sure if it would be totally adequate for the current conjecture of the world economy," he said.

ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

A Danger in Brazil: Splitting into Two Races

Hidden behind accounts in the press and the government’s Diário Oficial, the real Brazil ...

What You Can Do

What I discovered on this third journey opened my eyes to the possibility that ...

Brazil Industry Grows Slowly Due to Strong Brazilian Currency

A monthly study by the Federation of Industries of the State of São Paulo ...

Brazil Takes Its Alcohol Fuel Show to California

A delegation from the Brazilian Ministry of Development, Industry and Foreign Trade is in ...

Honda Introduces This Year in Brazil New Flexible Fuel Vehicle

Honda announced today that it has developed a new flexible fuel vehicle (FFV) system ...

Brazil Launches Project with Non-Tropical Exotic Fruits

Micro and small businesses from Rio Grande do Sul state, in the Brazilian South, ...

Brazil Gets the World’s 40th Place for Eco-Friendliness

Despite being the custodian of the world's largest forest, the Amazon, Brazil gets low ...

Brazil Senate Scandal: Secret Bank Account and Private Bunker for Sex

Brazil's Senate – whose president José Sarney, a former president of the nation, has ...

Food and Fuel Stir Up Inflation in Brazil

December’s inflation in Brazil as measured by the Broad Consumer Price Index (IPCA) amounted ...

Bad News Brings Bears to Brazilian Market

Latin American markets were mixed, hindered by declines in U.S. equities. Locally, Brazil’s market ...