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By Nelson Belen, Contributing Reporter

RIO DE JANEIRO, BRAZIL – After Brazil suffered its worst GDP decline in over 25 years, an increasing number of businesses are now starting to default on their debts. A survey released on Wednesday (April 27th) by the Credit Protection Service (SPC) and the National Confederation of Shopkeepers, showed the number of delinquent companies grew 11.08 percent in March compared to the same period last year.

The SPC’s chief economist, Marcela Kawauti, said the dramatic one-year increase demonstrates the deepening Subscribe to our Premium Membership Plan. Already Subscribed?