THE USE OF DUPLICAL CREDIT TARJETS TO THE PERSONAL PROVISIONS

Just one of the last measures announced by the Minister of Economy Sergio Massa it is grant loans for monotributists According to the category they have, justifying the fate associated with the activity and an unrisk credit situation.

In Argentina, with an inflation exceeding 100% annual, paying credit is something beneficial for many. Only in August 2023, according to one Report drawn up by Contadora Melisa Murialdo based on the latest BCRA data, the total balance of loans in weights rolled the 11 billion dollars, This represents a $5.3 billion rise in the last 365 days and a variation of 93.8% annually.During the last month, the variation of the monthly average of the loans requested was 833,798 million, which represents an increase of 8.2%, a figure below the inflation of the month that exceeded 12.4%. For what, In real terms, we repeat the fall in the balances of financing to the private sector in the same way that happened the previous month.[caption id="attachment_ 11886" align="alignnone" width="1920"] The balance of personal loans from the private sector had a variation of almost 94% in a year[/caption]

In this line, the accountant analyzed each of the Main headings of loans existing in the country, as well as their different behaviors. In the case of the personal loans, these increased 5% monthly in nominal terms and the average monthly balance rose to 1.405,358 million pesos, which shows a 66% homologous growth Compared with the 900,839 million pesos recorded at the end of the same month of the previous year.

The behavior that had This line of credit in August reveals that nominal growth is practically half of the IPC values, which demonstrates that financial services users are choosing another financing instrument such as credit card and that their nominal growth is largely due to the inflation suffered.

In detail, in the eighth month of the year, the credit card operations It was for a total of 3.220.796 million pesos, an increase of 9.5% nominal compared to the July closure, double the average balance of personal loans, It is loans with commercial documents that have increased the most. As for homologous growth, it reached 101.8% and despite being the type of funding that increased the most, it fell below the level of homologous inflation (124.4%).Probably, the recent provisions that limit the interest rate to be applied to the balances financed with plastic money result that the total personal loan portfolio is delayed compared with the total credit cards.

[caption id="attachment_ 11887" align="aligncenter" width="1920"] The credit card is the preferred financing option of Argentines[/caption]

Lines mortgage loans, including inflation/UVA adjustments, also increased by 4.7% in August and accumulated a total balance of 458.322 million pesos, with an annual increase of 30.8% in nominal terms.

As regards the the apparel credits, the same grew 88.6% in a year with a balance of the portfolio of 725.127 million pesos, versus 384.534 million pesos that were notified in the same month of 2022. However, Some experts point out that, although it was from the growing lines at times of relative financial stability, “he is suffering today by the shortening of deadlines in the credits and increased active interest rates.”In relation to Commercial loans (advances and documents) Like the previous ones, they showed a suba, at this opportunity, with a portfolio stock of 4.594.652 million pesos, being 114.8% more than the statement in August 2022. Some experts think that this is due to the proximity of the electoral period, because it influences both the takers and the lenders of credits of this area. The suba is mainly marked by the nominal increase in the amount commercial documents requested (+124.7% nominal homolog), which It was the only type of loan that grew more than inflation, thus showing a real growth of 0.5% annual.

Finally, the loans in dollars had a variation of 0.6% positive compared to August 2022. The annual increase is mainly due to the increase in the debt of clothing in dollars (+19.4%) and the debt with commercial documents (+5.1%). Specifically, the stock of loans was $3,737 million. Almost 70% of the total foreign currency debt remains the line of commercial documents, which rose 5.1% in the year, although fell 1.8% compared to the previous month. The mortgage and clothing credits in dollars represent 5% each of the total, and the latter are the only ones to increase, both monthly and homologous.

[caption id="attachment_ 11888" align="alignnone" width="1920"] Almost 70% of the total foreign currency debt remains the line of commercial documents[/caption]

It should be noted that before requesting any type of loan it is always advisable to try to avoid errors such as: ask for more than is necessary, choose a loan at a very long time, do not inform about the existence of products linked to that loan and do not compare similar products with other companies and at the same time to determine which may be more profitable. Inflation can influence the decision to borrow, but it is not the only factor to consider. The interest rate of the loan must be assessed, investment plans and the ability to meet the loan payments before making an informed decision.

Publisher: Analyst Accountant Melisa Murialdo

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