Angola’s Gross Credit to Non-financial Sector Reaches US$6.5 Billion as of May

By Xinhua 

June 26, 2023

Gross credit to the non-financial sector in Angola amounted to 5.16 trillion kwanzas (about 6.5 billion U.S. dollars) as of May this year, representing an increase of 9.88% compared to last year’s same period, according to a statement from the National Bank of Angola released on Friday.

The statement revealed that within the gross credit to the non-financial sector in Angola, 90.37% came from the private sector (private companies and individuals) and 9.63% from public sector borrowing (government administration and public companies).

The statement said as of May, the referred credit allocated to the real economy amounted to 1.26 trillion kwanzas. This represents 24.24% of the total gross credit in the banking sector.

According to the Angolan central bank, housing credit granted to individuals during the period totaled 168.57 billion kwanzas.