Outstanding loans in Brazil grow by 16.3% y/y in June
The amount of outstanding loans in Brazil expanded faster in June, rising by 16.3% y/y, after growing by 16.1% y/y in May.
The amount of outstanding loans in Brazil expanded faster in June, rising by 16.3% y/y, after growing by 16.1% y/y in May. According to the local central bank, households’ debt growth accelerated from 16.5% in May to 17.5% y/y in June, offsetting the deceleration in companies’ debt growth from 15.6% y/y to 14.8% y/y in the same two months.
In the sixth month of 2021, the overall outstanding loans in the Brazilian financial system reached BRL 4.2tn, corresponding to 52.6% of GDP.
Further data and analysis on Brazil’s economy are available on the CEIC Brazil Economy in a Snapshot – Q2 2021 report.