ISSN 2330-717X

Brazilians See Rise In Indebtedness And Default

By

By Vitor Abdala 

Indebtedness affected 67.5 percent of Brazilian families in August, as per data released Thursday by the National Confederation of Trade of Goods, Services, and Tourism (CNC)—above the 67.4 percent from July this year and the 64.8 percent from August last year.

Default (debts overdue), in turn, reached 26.7 percent of families in August, a percentage above the 26.3 percent from July this year and the 24.3 percent from August last year.

The families that will not be in condition to pay their bills account for 12.1 percent, above July (12%) and August last year (9.5%).

According to CNC President José Roberto Tadros, families with higher income have increased their savings account in detriment of consumption, especially in services, but families with lower income have needed more credit.

Though more indebted, families are reported to have reduced the average portion of the income committed to debts in August. Of the indebted families, 21.4 percent said they have more than half of the monthly income committed to the payment of such debts, the third consecutive reduction after it reached 22.4 percent in April.

ABr

ABr

Agência Brasil (ABr) is the national public news agency, run by the Brazilian government. It is a part of the public media corporation Empresa Brasil de Comunicação (EBC), created in 2007 to unite two government media enterprises Radiobrás and TVE (Televisão Educativa).

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.