Credit to the Mozambican economy has declined for three months

Mozambique's credit to the economy has declined for three consecutive months, reaching 291.169 billion meticais in August. This follows a peak in May, with a total decrease of 2.685 billion meticais since then. Personal loans remain the largest share of bank financing, increasing to 107.335 billion meticais. The commerce sector also saw growth in credit, while construction and extractive industries experienced declines. The average interest rate for one-year loans rose to 22.26% in August, reversing a previous downward trend. The prime rate has remained steady at 15.50% for six months, reflecting the central bank's monetary policy decisions.