BNDES’ disbursements drop 19%

19 de setembro de 2017

São Paulo – Disbursements by the Brazilian Development Bank (BNDES) reached near BRL 45 billion (USD 14.50 billion) from January to August, a decline of 19% over the same period of last year, which shows Brazil’s still struggling economic times, according to the bank. The data was released this Tuesday (19).

However, the bank highlighted that in 2017’s first eight months there was an increase in disbursements to the agricultural sector (9%) and to some branches of the infrastructure sector, such as telecommunications (86%), electric power (53%) and railway transportation (3%).

In August, disbursements totaled BRL 4.7 billion (USD 1.51 billion), a decline of 32% over the same month of 2016.

*Translated by Sérgio Kakitani