The president of Brazil’s development bank, BNDES, Paulo Rabello Castro, said Brazil’s economy is currently “anemic.”
The executive said it would be a “surprise” for the bank to offer about BRL 65 billion in loans this year, well below the BRL 88.3 billion it offered last year.
“Brazil’s economy is anemic. There’s no mood for investments in the same pace we had last year. The appetite for investments may fall 30 percent,” he told local media, while joining an industry event in São Paulo.
Castro criticized the effects of the corruption probe of the Car Wash, or the Lava Jato, for the lagging investments.
He said businessmen involved in the corruption probe should have been allowed to get back to business.