Africa-Press – Angola. Gross credit granted to the non-financial sector of the Angolan economy amounted to 6.22 billion kwanzas, last March, registering an increase of around 1.4 billion kwanzas (28.30%), compared to the period counterpart.
According to the statement from the National Bank of Angola (BNA), this Thursday, 88.81% of the total loan went to private sector debt (private companies and individuals) and 11.19% to the public sector (public administration and public companies).
In the same period, the stock of credit to the economy, in national currency, reached 4.69 billion kwanzas, recording an increase of Kz 131.93 billion, in the first three months of this year.
BNA data also indicate that the debt of the non-financial public sector totaled 696.54 billion kwanzas, of which 54.35% refers to public administration and 45.65% to public companies.
Compared to the same period last year, there was a growth of 284.29 billion kwanzas (68.96%).
In turn, private sector debt increased by 1.09 billion kwanzas (24.53%), rising from 4.44 billion, in March 2023, to Kz 5.53 billion in March 2024.
The debt of non-financial private companies corresponded to 4.30 billion, with an increase of 780.47 billion kwanzas (22.18%) and the debt of individuals corresponded to 1.23 billion, with an increase of 307.90 billion kwanzas (33.49%).
Still in March 2024, gross credit directed to the Real Sector of the Economy totaled 1.24 billion kwanzas, an increase of 189.01 billion (18.01%) in relation to the corresponding period of the previous year, driven mainly by due to the significant reinforcement in the Manufacturing Industry subsector, which registered an increase in resources of around 104.64 billion (20.11%).
The total current credit granted under BNA Notice No. 10/2022, for the promotion of the Real Sector, totaled 1.09 billion kwanzas, which represents 88.11% of the total credit granted to the Real Sector and 18.38% of the banking system’s gross credit portfolio.
Compared to the same period last year, there was a notable increase of 273.79 billion kwanzas (33.46%), mainly influenced by the financing of projects in the Manufacturing Industry subsector, which recorded an increase of 88.27 billion kwanzas (17.25%).
Areas that benefited from credit
In terms of subsectors of economic activity, of the total credit granted to the Real Sector, in the period under analysis, the Manufacturing Industries subsector stands out, with 624.92 billion kwanzas (50.45%), Extractive Industries, with 316.88 billion (25.58%), and the Agriculture, Animal Production, Hunting, Forestry and Fishing subsector, with 296.82 billion kwanzas (23.96%).
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