According to a survey conducted by Serasa Experian, the number of micro and small enterprises (MPEs) defaulting in Brazil reached a new record in May 2019, surpassing 5.4 million. This record is a direct result of the current stagnation of the Brazilian economy.
This is the highest level of the historical series, which began in March 2016. Services (10.5%), industry (2.4%) and trade (2.2%) were the sectors with the highest increase in the annual comparison.
In this scenario of paralysis of the Brazilian economy, the country's main banks continue to charge one of the largest spreads on the planet and cut credit lines.
Although current Economy Minister Paulo Guedes said that economic growth should "begin to be positive in the second quarter" of 2019, many analysts indicate that the Social Security Reform is not intended to provide economic growth but to reduce the hole left by Pension plan in public accounts year after year.
Contrary to the government's assertion, the Pension Reform may have a recessive effect on the Brazilian economy if there is no significant increase in investments in the country in the second half of 2019.
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