Credit growth declines in June

Friday, August 03, 2007

The year-on-year growth in commercial banks' credit in June was 17.5 percent, down 3.1 percent from 20.6 in May, the Bank of Botswana (BoB) has reported.

BoB says although the overall rate of growth has declined by 3.1 percent, it is still 3.5 percent above the upper end of the Bank of Botswana's target range for credit growth of 11 to 14 percent.

The overall reduction in credit growth was attributable to the decline in the rate of growth in credit extended to the business sector, which slowed to 16.5 percent from 28.3 percent in May.

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