Mining, energy sectors lift private credit growth

Private sector borrowing showed signs of recovery in June, supported by increased demand from businesses, particularly in mining, energy and related sectors.

The latest Private Sector Credit Extension (PSCE) report shows that total private sector credit increased by 1.1% month-on-month in June, while annual growth improved to 4.5% from 4.3% recorded in May.

“The growth was supported by both households and companies, with corporate credit growth rising slightly to 4.5% year-on-year from 4.4% in May,” the report noted.