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BRASILIA, Dec 23 (Reuters) - The Brazilian central bank expects total outstanding credit to drop to an equivalent of 48 percent of gross domestic product in 2017, down from 49 percent in 2016, even as it sees a 2 percent expansion of local credit markets next year, central bank economist Tulio Maciel said on Friday.
Outstanding loans by public banks are expected to grow by 3 percent in 2017, while loans from local private banks should grow by 1 percent, Maciel said. Foreign private banks are expected to increase lending by 2 percent, he added. (Reporting by Marcela Ayres; Writing by Silvio Cascione; Editing by Chizu Nomiyama)