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The Central Reserve Bank (BCR) rejected a increase in delinquency credit to the private sector and a over-indebtedness possible, in the context of an economic downturn.
The head of economic studies of the BCR, Adrián Armas, explained that this scenario was not considered, because a trend is observed in the first. increase in the formal workforce (income) and in the number of jobs formal private sector.
According to the monetary entity only in June this year, the formal payroll increased by 6.5% over the same month of last year; while jobs grew by 3%.
Secondly, says Armas, in the extension of the supply of credit, it is observed that these correspond to sectors with higher income in terms of composition, which would be related to Loans with lower credit risk.
"In fact, what is observed, for example, in the month of June is that the overdue credit card portfolio reduced from 4.15% to 4.09%. It is at the macro level, this does not mean that there may be a problem of indebtedness at the individual level, but at the micro level, where the monitoring of financial activity is important but at the macro level, no problem of this type is observed"He said.
He added that the recent reduction in interest rate of 2.75% to 2.50% it will benefit corporate interest rates, which will boost domestically-financed enterprises and facilitate working capital.
"This would be the most immediate impact and would help somewhat with this boost given in the credit issue, remembering that credit does not only depend on supply, where the benchmark rate can contribute, but also on the demand side, "he said.
Armas said the low interest rate maintained by the BCR over the last 16 months had contributed to the steady rise in credit. So, he said that the household credit (consumption, vehicle and mortgage) Its growth has been faster than that of companies.
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