BRASILIA, Jan 25 (Reuters) - Brazil’s state development bank, BNDES, disbursed 136 billion reais ($33.24 billion) for investment projects in 2015, down 28 percent than the previous year, the lender said on Monday.
Since the start of her second term in 2015, President Dilma Rousseff has halted the transfer of fresh capital into the lender to close a widening budget gap.
The drop in disbursements by the BNDES, the country’s main provider of long-term corporate credit, reflects the fall in demand for capital goods as the economy sinks into its worst recession in decades.
Companies requested 47 percent less loans last year than in 2014, the company said in a statement. ($1 = 4.0911 Brazilian reais) (Reporting by Alonso Soto, Editing by Franklin Paul)