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

Brazzil Magazine covers

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:

You May Also Like

Brazzil Magazine covers

Brazilian President Visits UK. End of Farm Subsidies in the Agenda.

Brazilian President Luiz Inácio Lula da Silva will be in the United Kingdom between ...

Brazzil Magazine covers

Bush Offers Brazil Energy Deal to Counter Chavez and Ahmadinejad Advances

American President George W. Bush will tour Latin America in March, in an attempt ...

Brazzil Magazine covers

Brazilian Women March for Abortion Right and End to Violence

Today, March 8, is International Women’s Day (IWD) (which can also be written Woman’s ...

Brazzil Magazine covers

Brazil Goes on Spending Spree and Gets Worst Primary Surplus since 1991

Spending too much was the main reason for the worse primary account result, in ...

Brazzil Magazine covers

In Brazil Consumer Confidence Falls for Third Month in a Row

Brazilian consumer confidence has fallen for the third consecutive month, reports the Fundação Getúlio ...

Brazzil Magazine covers

Brazil’s Indianist Missionary Council Keeps Its Leader

The missionaries gathered at the 17th Assembly of the Indianist Missionary Council (Cimi), in ...