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Brazil’s Credit Volume Goes Past Half a Trillion Dollars, 34% of GDP

Brazil's Gross Domestic Product Brazil's credit volume should continue to grow in 2008. So expects Altamir Lopes, the head of the Economics Department at the Brazilian Central Bank. According to data disclosed by the Bank today, on December 26, total credit reached 908.775 billion Brazilian reais (US$ 507.440 billion) in November, and projections for next year forecast a 20% growth.

In 2008, credit volume is expected to correspond to 37% of the Gross Domestic Product (GDP), the sum of all riches produced in the country. In November, the credit to GDP ratio stood at 34.3%.

"The credit volume compared with the GDP grew 3.6% this year. Should we continue to grow at this pace, then it should reach approximately 37%," said Altamir Lopes.

He also stated that credit volume might reach the historic mark of 1 trillion reais (US$ 558.3 billion), but did not risk setting a date for it to happen.

"We now stand at 909 billion reais (US$ 507.5 billion), so it will not take much for us to reach the trillion mark."

In the opinion of the head at the Economics Department of the Central Bank, although real estate credit is expected to continue growing at expressive rates, the driving factors for funding should be companies and natural persons.

ABr

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  • Show Comments (10)

  • ny

    Costinhaaaa
    Ninguem e maior merda de que tu e os teus, a merda por todo lado, e por isso que os cariocas como tu tem que ir a praia todos os dias para se lavarem de tanta bosta que sao e trazem arastando.
    Ne Costinhaaaaa KKK.

  • Eduardo C.

    CH.c.
    Decline!! You Know FAT nazi BITCH

  • ch.c.

    Continued for….the stupid Brazilians… !
    Why dont you ALL re-read the preceding article :
    “Brazil Exports Grow 16%, Way Over World’s Average, But Still 1% of Global Trade “

    To my knowledge Brazil represents 2,5-3 % of the World population but ONLY 1 % of the Global Trade !!!!!!!

    Keep working harder and harder JUST to be within the World Average !!!!!
    LAUGH….LAUGH….LAUGH….LAUGH

    To my knowledge YOUR NON-exceptional prowess for exports represents FAR LESS than US$ 1000.- annually….per capita !
    Even if you again DOUBLE the actual amount during the next several years…..this will STILL represent A SMALL AMOUNT when compared with exports per capita of developed nations.
    When compared with my country, the ratio TODAY is 30 to 1.
    Thus assuming you will double again within the next 5 years, the ratio will be at 15 to 1, but only provided if we dont grow at all….of course !

    Keep working harder harder and harder…..and you will still be VERY SMALL…..wether you like it or not !
    And it is not by continuing to export BASIC commodities with very LOW value added that you will become smarter.
    But the question you should ask to yourselves is : but what idiots can export with much higher added value ? Smile

    Sorry fior the idiots who feel they are the smartest on earth !!!!!

    Ohhhhhh….if you want a lesson or two on how to export….feel free to ask.

  • ch.c.

    American Decadence ? BRICS superiority ?
    – BRICS nearly 3 billion Total population has a LOWER GDP than the “decadent” 300 millions population of the USA !!!!

    I really wonder who is the most decadent. BRICS or the USA ?????? Laugh….laugh !

    BRICS Central Banks have been Sooooo smart….that they accumulated 66 % of their foreign reserves currencies……in a depreciating currency for 5 years !
    You have proven that this is the best what idiots have done !
    Idiots are always convinced they are Soooo smart…that they prove daily how idiots they are !

    And to the idiot Dduardo C. saying ” Everybody will see the United States speaking Chinese”, in my humble view it is already…..THE OPPOSITE…… WETHER YOU LIKE OR NOT.
    And even more doubtful that citizens in the BRICS will learn the language of another BRICS member !
    Lets face it, most have/will learn ENGLISH to communicate between each other, just as we already do….TODAY…..on this site !!!!
    Simple proof of how truly idiots some Brazilians are.
    Eduardo C. is a Brazilian example within many many many more !

    πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰ πŸ˜€ πŸ˜‰

  • Eduardo C.

    DecadΓ€Ζ’Βͺncia
    Everybody will see the United States speaking Chinese. If the Chinese goverment stop to buy american papers..itΓ€β€šΒ΄s over for u guys.You still driving the bus…BUT ….. In 10 years you will speak Chinese. And dollar will be just Wallpaper. Look GM.. and Chrysler..what a shit cars they produce.TOYOTA will buy in the future GM..wait and you will see. Chinese give you americans the money to invade and..destroy other countries. Some chiken??

  • Oh yeah!
    U.S. Government has over $1.4 trillion dollars in debt to China alone, not counting OPEC countries, the EU, India, Brasil and many others countries.

    Uncle Sam, to the back of the bus you go again and if you donÀ’€ℒt shut your apple pie hole, you gonna have to walk the rest of the wayÀ’€¦ Questions?

    Costinha

  • JAY GLENN

    AMERICAN CREDIT VOLUME
    The USA is taking a back seat??

    Brazil’s credit volume 908.775 billion Brazilian reais (US$ 507.440 billion)
    [b]
    The numbers for my banks bank card is 1.319 trillion BR$ ( 570 Billion US $$$ dollars) thats just one American bank.[/b]
    And WACHOVIA is not in the top 10 Largest AMERICAN banks.
    Back of the bus? We are driving the bus. We own the bus.

  • ….

    NY
    FODA-SE!

    I LUV U 2…

    Costinha de Costa

  • De

    to ckckckc
    instead of using intelligent argumentation to make your point, you curse the USA without any reason… I might as well act like you:
    you are a complete moron!

  • ckckckc

    Better News YetÀ’€¦
    The United States is becoming less and less of a player & business trader, as Brasil, China, India, Russia & South Africa becomes stronger & stronger in the consolidations of BRICS.

    Way to goÀ’€¦ Uncle Sam, back of the bus for you, buddy boy!

    Costinha

    PS: Os Estados Unidos Γ€Ζ’Β© uma merda e sempre serΓ€Ζ’Β‘!

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