Banks' loans to the national economy grew by 7.8% to more than 298,182 million meticais in May, with the largest share going to private individuals, official figures show.

According to a statistical report by the Bank of Mozambique, consulted today by Lusa, in May 2022 the volume of credit granted by banks to the national economy amounted to 276,589 million meticais, of which 57,695 million meticais were specifically granted to private individuals.

Meanwhile, credit to private individuals rose by more than 46% in the space of a year, to 84,686 million meticais, according to the same figures.

Of the total credit granted by May 2023 to the economy by banks operating in Mozambique, agricultural projects and activities accounted for 7,440 million meticais, the extractive industry for 7,862 million meticais and the manufacturing industry for 38,275 million meticais.

In construction and public works, loans amounted to 15,681 million meticais, in commerce to 32,362 million meticais, and in transport and communications to 34,151 million meticais, among other sectors.

According to data from the central bank, 15 commercial banks and 12 micro-banks operate in Mozambique, as well as credit cooperatives and savings and credit organizations, among others. (sapo)