According to official data from the Central Bank, productive loans had the sharpest rise in the series. This is why the Government is paying close attention to this figure.
The productive credits recorded an interesting increase in June. Total loans rose by 8.9% in real terms compared to their level in the previous month. It was the steepest rise in the series. Within this aggregate, those destined for the productive sector showed a real monthly increase of 13%. These are data published by the BCRA based on its Daily Monetary Report, which has already completed the numbers for June.
The estimates were made by LCG based on preliminary official numbers from the BCRA and reveal that: “all loans presented a significant recomposition this month”. Although credit had already given good news because it had stopped falling in the previous months, even with some months of slight improvement, June showed the best data so far.
LCG stressed: “Financing for companies was the main driver of monthly growth: 13% monthly in real terms. Domestically, all instruments had monthly increases, but Documents prevailed with 15.7% monthly in real terms, followed by Advances which did the same at a slightly slower pace (7.2% monthly in real terms). However, compared to a year ago, loans to companies have accumulated a contraction of 24.3% in real terms.”
500 common pesos.avif
What the Preliminary Budget Report Says About Credit and Consumer Affairs
The Progress Report on the Preparation of the Draft Law on the General Budget of the National Administration for Fiscal Year 2025 sent to Congress by the Government He stressed that economic activity will enter a recovery phase thanks to disinflation, which will theoretically facilitate an improvement in real wages.
And also for credit. The report sent to Congress stated: “Macroeconomic stabilization, the elimination of the fiscal deficit and the strong reduction of the quasi-fiscal deficit pave the way for the growth of credit to the private sectorsomething that has already begun to be observed with the reappearance of long-term mortgage credit. The resources from the private sector that until last year were collected by the public sector to finance its consolidated deficit will now be able to “turn to financing for families and businesses.”
For its part, LCG made a projection with a view to improvements but not so optimistic: “With inflation and activity finding a certain floor, they could see new improvements which would be combined with the low-rate strategy, which discourages savings but stimulates demand for credit. Another point to monitor will be theThe evolution of mortgage loansfor which a certain recovery had been announced, but which is not yet reflected in the data. We do not, however, expect a major expansion of credit throughout the year.”
Source: Ambito
