Credit from Mozambican banks to the economy has increased by 4% since the beginning of the year, ending July at 288,235 million meticais (4,209 million euros), according to data from the Bank of Mozambique.
A September statistical report from the Bank of Mozambique states that credit to the economy stood at 276.943 billion meticais (4.044 billion euros) at the end of December. Of the total known up to the end of July, credit to private companies grew by 2.5% since the beginning of the year, to 134.118 billion meticais (1.958 billion euros).
According to the same report, net credit to the government fell by 11.5% since the beginning of the year, to 155,105 million meticais (2,265 million euros) in July.
The report also indicates that deposits in Mozambican banks have fallen by 1% since the beginning of the year, to around 578.358 million meticais (8.445 million euros) in July.
According to data from the Central bank, 15 commercial banks and 12 microbanks operate in Mozambique, as well as credit cooperatives and savings and credit organizations, among others.