Rural credit under the Bolsonaro government: continuity and financialization

Abstract

This article analyzes rural credit granted during the government of Jair Messias Bolsonaro (2019-2022), based on data from Brazil's Central Bank. The research investigates the distribution of resources by modality, funded items, Brazilian regions, states, municipalities and programs, while also examining interest rates and changes introduced by the Agro Law. The results indicate that 55% of resources were allocated to the working capital modality, being soybeans the main funded product, with 22% of total. The South, Central-West and Southeast regions together concentrated 83% of the funds, and Paraná was the state that received the most credit. The municipality of Rio Verde (GO) stood out as the main beneficiary. Large-scale rural producers received 64% of the resources. The study concludes that the Bolsonaro government maintained the historical pattern of concentrated rural credit distribution, innovating only in the deepening of agricultural financialization through the Agro Law.