PRIVATE SECTOR CREDIT GROWTH FALLS

Private sector credit growth falls

The credit growth in the private sector declined to 11.04 percent in October 2013 compared with that of 18.38 percent in October 2012 due mainly to recent political unrest. The low credit growth in the private sector indicated that the country’s investment sector was facing a severe crisis which would ultimately hit the expected growth rate in the gross domestic products for 2013-14. Meanwhile, the credit growth in the government (net) sector increased to 15.36 percent in October 2013 compared with that of 13.42 percent in October 2012.

 




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