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Serasa Experian: Credit rating system could inject 1.1 trillion reais in Brazil

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Serasa Experian: Credit rating system could inject 1.1 trillion reais in Brazil

The launch of a credit rating system in Brazil could bring 22.1 million consumers to the credit market and inject 1.1 trillion Brazilian reais into the country's economy through loan demand, credit research firm Serasa Experian said in a news release.

The amount that could be injected into the economy represents 17.4% of the country's GDP, while the number of individuals that could have access to credit equates to 14.6% of the Brazilian adult population.

This potential would increase Brazil's credit-to-GDP ratio to 67.6% from 50.3%, Serasa noted in a Dec. 28 news release.

As of Dec. 29, US$1 was equivalent to 3.25 Brazilian reais.