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Economy

Gross credit to the non-financial sector grew by more than 18 percent compared to the previous year

O crédito bruto ao sector não financeiro atingiu 6,8 biliões de kwanzas em Julho, mais 18,2 por cento em relação ao período homólogo do ano anterior, anunciou Banco Nacional de Angola (BNA).

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The largest share (89.1 percent) is represented by debt from the private sector, companies and individuals, the BNA said.

The overall volume of credit amounted to 6.8 trillion kwanzas, with public sector debt accounting for 10.9 percent.

The stock of credit to the economy, in national currency, reached five trillion kwanzas in July, having registered an increase of 460.3 billion kwanzas in the first seven months of the year.

During this period, debt from the non-financial public sector increased by 123.4 billion kwanzas, up 20.1 percent compared to the same period in 2023, while debt from companies and individuals increased by 18.3 percent.

According to the BNA note, gross credit to the real sector of the economy totalled 1.31 trillion kwanzas in July, a decrease of 18.99 billion kwanzas, "driven mainly by the contraction of resources allocated to the agriculture, animal production, hunting, forestry and fishing sectors".

Total credit granted to promote the real sector reached 1.12 trillion kwanzas, representing 85.93 percent of the total credit granted to this sector and 18.39 percent of the gross credit portfolio of the national banking system, an increase of 18.99 percent compared to the same period last year.

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