Tanzania: Banks Increase Domestic Credit

THE banking system's domestic credit has grown at an annual rate of 10.6 per cent in September this year compared to 6.2 per cent in the corresponding period last year, driven by both central government and private sector credit.

According to the Bank of Tanzania (BoT) Monthly Economic Review for October, the credit extended to the central government by banks through purchases of government securities increased by 39.5 per cent compared to a contraction of 7.7 per cent.

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