Luanda - Gross credit from the non-financial sector stood at 6.8 trillion kwanzas in July, which represents an increase of around 1,060.6 billion kwanzas (18.2%) compared to the same period last year.
According to the National Bank of Angola (BNA), 89.1% of this borrowing was for private sector debt (private companies and individuals) and 10.9% for the public sector (public administration and public companies).
In the same period, non-financial public sector debt totaled 738.7 billion kwanzas, of which 54.8% related to public administration and 45.2% to public companies. Compared to the previous month, there was an increase of 1.23 billion kwanzas (20.1%).
Private sector debt grew 937.2 billion kwanzas (18.3%) going from 5.1 trillion in July 2023 to 6.1 trillion in July 2024.
The indebtedness of non-financial private companies amounted to 4.7 trillion kwanzas, an increase of 866.7 billion kwanzas (22.4%), while the indebtedness of private individuals amounted to 1.3 trillion, a 70.5 billion (5.7%) increase.
The stock of credit to the economy, in national currency, reached 5 trillion kwanzas, with an increase of 460.3 billion in the first seven months of this year.
Also in July 2024, gross credit directed to the Real Sector of the Economy totaled 1.31 trillion kwanzas, a decrease of 18.99 billion (1.43%) compared with the previous year.
This reduction was mainly driven by the contraction in resources allocated to the agriculture, animal breeding, hunting, forestry and fisheries sub-sector, with a reduction in resources of around 137.29 billion kwanzas (31.78%).
Total credit granted under BNA Notice 10/2022, which aims to promote the Real Sector, amounted to 1.12 trillion kwanzas, representing 85.93% of total credit granted to this sector and 18.39% of the banking system's gross credit portfolio.
Compared to the same period in the previous year, there was a significant increase of 179.38 billion kwanzas (18.99%), mainly driven by the financing of projects in the manufacturing subsector, which recorded a 112.85 billion kwanzas (21.39%) increase.
In terms of sub-sectors of economic activity, the total credit granted to the Real Sector in the period under review , the manufacturing sub-sector tops the list with 651.30 billion kwanzas (49.79%), of which 640.33 billion (98.32%) corresponded to credit under BNA Notice 10.
Meanwhile, the extractive industries sub-sector recorded 361.96 billion kwanzas (27.67%), of which 193.03 billion (53.33%) were granted to the real sector, while agriculture, animal production, hunting, forestry and fishing, recorded 294.72 billion kwanzas (22.53%). QCB/VC/AMP
