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29/01/2018 - 16:27hs

Credit reaches USD 1 trillion in Brazil

The balance of lending operations declined 0.6% in 2017 over the previous year. The amount accounted for 47.1% of the country’s Gross Domestic Product.

Brasília – The total of the financial system’s credit operations reached BRL 3.086 trillion (USD 1 trillion) in December of last year, which meant a decline of 0.6% over 2016, when the amount reached BRL 3.105 (USD 1.1 trillion). The 2017’s total credit operations accounted for 47.1% of the year’s Gross Domestic Product (GDP). In 2016, credit operations accounted for 49.6% of the GDP.

The data is part of the bulletin Monetary Policy and Financial System Credit Operations, released this Monday (29) by the Brazilian Central Bank (BC). According to the head of the BC’s Statistics Department, Fernando Rocha, 2017 presented repeated declines in the stock of credit until the middle of August. In the year’s Q4, however, there was a gradual recovery.

*Translated by Sérgio Kakitani

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