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“In July, the federal government launched the Desenrola Program, which offered the renegotiation of bank debts for people with incomes between R$ 2.6 thousand and R$ 20 thousand. This initiative led to a reduction in the percentage of indebted middle-class people during the month of July”, CNC explained in a statement.
The percentage of Brazilian families with debts fell from 78.5% in June to 78.1% in July, representing a reduction of 0.4 percentage point. This was the first decline observed since November 2022. As a result, the total number of indebted people reached its lowest level since January of the same year. This information comes from the Consumer Debt and Delinquency Survey, which the National Confederation of Commerce in Goods, Services and Tourism (CNC) released.
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Categories in Desenrola
Within the group with a family income of three to five monthly minimum wages, the share of indebted individuals fell by 0.7 percentage point, from 79.3% in June to 78.6% in July, the lowest since June 2022. In the income category of five to ten minimum wages per month, the decline was also 0.7 percentage point, dropping from 78.1% in June to 77.4% in July, the lowest rate since January of that year.
For the wealthiest segment, which earns more than ten minimum wages per month, the rate of indebted individuals remained unchanged at 74.9%. However, among those with lower purchasing power, with a monthly income of up to three minimum wages, the percentage of indebted individuals rose by 0.2 percentage point, from 79.2% in June to 79.4% in July.
“The Desenrola Program focuses on consumers who earn up to 2 minimum wages and whose CPF is listed as delinquent due to debts of up to R$ 5,000. However, the implementation of this program for this specific group will only begin in September,” highlighted the CNC statement.
According to economist Izis Ferreira, who coordinates the CNC survey, the proportion of indebted people in Brazil is expected to approach 77% in September, with the arrival of Desenrola for those earning up to two minimum wages.
“CNC projects that the percentage of indebted consumers will continue to fall in the coming months,” Ferreira stated in an official announcement. “However, the expectation is that this rate will begin to rise again at the end of the year, closing 2023 with approximately 78% of all families in debt,” she added.
Delinquency on the rise
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In contrast to indebtedness, the delinquency rate rose by 0.4 percentage points from June to July, going from 29.2% to 29.6%. In the lower-income group, which earns up to three minimum wages, the proportion of families with overdue debts increased from 37.0% in June to 37.3% in July.
