BNDES releases 35% less. Are we going to grow without investing and without financing?
"11% less than in 2015 may not seem like much, but it's about 2015, when the country practically stagnated in this sector," writes journalist Fernando Brito of Tijolaço, commenting on the figures released by the bank regarding the propensity for future investments; "Money, as was shown earlier today, is only for the financial market," he says.
By Fernando Brito, from brick The figures released this Tuesday by BNDES are tragic regarding the prospect of resuming investment and, therefore, economic activity in the country itself.
Not only because of the drop you see in the graph – 35% or R$ 47,2 billion less than last year and a return to a level lower than that of 2008, the year of the global crisis – but also because of other indicators, especially the number of inquiries, which indicates a propensity for future investments.
11% less than in 2015 may not seem like much, but it's about 2015, when the country practically stagnated in this sector.
The trade and services sectors, which respond more quickly – unlike industry, where investments take longer to mature – fell the most: 40%. Meanwhile, working capital financing, although representing a small volume in the bank's portfolio, rose by more than 60%, indicating a lack of operational capacity in companies.
Money, as was shown earlier today, is only for the financial market.
For the rest, nothing, in pursuit of the delusion of "zero inflation" (and interest rates, obviously, not) which the president of the Central Bank, Ilan Goldfarb, has already been rehearsing for 3% in 2019.
Brazil doesn't have economists, it has agents of financial capital.