Figures from the Bank of Ghana (BoG), show that banks’ credit to the private sector has improved considerably almost back to pre-pandemic levels and is broadly in line with the uptrend in economic activities.
In nominal terms, the private sector credit recorded a significant annual growth of 36.5 per cent in April 2022, comprehend with 6.9 per cent in April 2021.
In real terms, however, the private sector grew by 2.3 per cent due to sustained price pressure, relative to a contradiction of .5 per cent recorded for the same comparative period.
The data shows that credit growth continued to improve reaching GH¢ 16.4 billion representing a 56.5 per cent year-on-year growth.
The latest credit conditions survey revealed that bonds are beginning to tighten the credit stance on loans in enterprises and households.
Despite the tightening of credit conditions demand credit by households and firms continues to remain strong.
The latest confidence surveys conducted in April 2022, showed some easing and sentiments in consumers’ confidence dipped on discount of increase in fuel prices and transportation costs as well as rising inflation.
Business sentiments also dipped on concerns that price pressures and currency depreciation would adversely impact industry prospects.
The survey findings were brutally slighted with elevated trends in Ghana’s Purchasing Management Index (PMI), which satisfied declines in both input and new orders.
Figures from the Bank of Ghana (BoG), show that banks’ credit to the private sector has improved considerably almost back to pre-pandemic levels and is broadly in line with the uptrend in economic activities.
In nominal terms, the private sector credit recorded a significant annual growth of 36.5 per cent in April 2022, comprehend with 6.9 per cent in April 2021.
In real terms, however, the private sector grew by 2.3 per cent due to sustained price pressure, relative to a contradiction of .5 per cent recorded for the same comparative period.
The data shows that credit growth continued to improve reaching GH¢ 16.4 billion representing a 56.5 per cent year-on-year growth.
The latest credit conditions survey revealed that bonds are beginning to tighten the credit stance on loans in enterprises and households.
Despite the tightening of credit conditions demand credit by households and firms continues to remain strong.
The latest confidence surveys conducted in April 2022, showed some easing and sentiments in consumers’ confidence dipped on discount of increase in fuel prices and transportation costs as well as rising inflation.
Business sentiments also dipped on concerns that price pressures and currency depreciation would adversely impact industry prospects.
The survey findings were brutally slighted with elevated trends in Ghana’s Purchasing Management Index (PMI), which satisfied declines in both input and new orders.
