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Tunisia: Loans to economy up 6.4% in April (BCT)

Loans to the economy edged up 6.4% in April 2021 against 4.4% in March and 4.2% last year, the Central Bank of Tunisia (BCT) said in a note on economic and monetary developments and medium-term prospects (July 2021), released Wednesday.

This increase was driven by the 5.7% rise in professional loans against 3.5% in March, medium- and long-term loans (+13.7% against 12.3%) and personal loans (+8.6% against 7.1%).

Likewise, consumer loans also rose considerably by 11.5% compared with 9.4% one month earlier, while housing loans edged up 5.3% against 4.4% in March.

According to the BCT, the easing of monetary policy in 2020 contributed to a large extent to the recovery in credit.

“However, it is still important to remain vigilant about the swift development of consumer credit, which could have significant repercussions on the balance of the external sector as seen in 2018,” the BCT warned.

Besides, the M3 money supply continued to decelerate in April 2021, evolving at a rate of 8.8%, against 9.4% in March and 13.1% a year earlier. This was mainly due to the decline in the contribution of the M1 money supply and, more specifically, currency.

In terms of balance, the deceleration of the M3 money supply is mainly due to the slowdown in the contribution of net claims on the State and by the negative contribution of net external assets.


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