Meanwhile, although credit in pesos to the Non-Financial Private Sector fell 1.8% in real terms in July compared to the previous month, the stock was 4.5% higher than the same month last year, at constant prices.
Likewise, the report highlights that the Financing Line for Productive Investment (LFIP) continues to be the main tool used to channel productive credit to MSMEs.
Regarding the month of August, Adimra highlighted that the ratio between loans in pesos to the private sector and the gross domestic product (GDP) was 6.8%, without significant variations compared to that registered in the last year.
In the foreign exchange market, last August an increase of 8.5 pp was observed on average, in the instruments most used by SMEs (document discounts, single signature loans and current account advances); at the same time that the traded volume fell.
The largest increase in operations was recorded in current account overdrafts, which grew 9.6% compared to July, while the instrument that most reduced the volume of operations was single-signature loans, with a decrease of 42% at constant prices, compared to the last month.
Adimra’s report recalled that from communication A 7605 of the Central Bank (15/9) it was determined that the interest rates of the LFIP be established at 64.5% TNA for productive investment and 74.5% TNA for capital from work. In the working capital segment, the effective rate exceeds year-on-year inflation and expected inflation (REM).
Source: Ambito
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