Malanje — The executive director of the National Bank of Angola (BNA), Marília Poças, said that credit incentive instruments aimed at the national productive sector currently have an estimated allocation of 1.9 trillion kwanzas.

Speaking at a press conference following the 130th meeting of the Monetary Policy Committee held in Malanje, Marília Poças said that 1.5 trillion kwanzas are directly linked to this National Bank of Angola credit initiative, made available under its Notice No. 10.

The executive noted that this financial volume means the BNA-sponsored credit instrument is currently responsible for 75 percent of all financing granted to the country's productive sector.

According to data presented by the official, the financing instrument in question recorded 8.3 percent growth over a comparable 12-month period, reflecting increased momentum in granting credit for national production.

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She added that operations under these credit initiatives continue to grow, boosting economic development in the non-oil real sector.

The official highlighted that 20 operations were carried out in Malanje province, mostly directed at agriculture, notably the Socamia farm, which focuses on sugar production.

She also stated that Malanje province benefited from 95 billion kwanzas through the economic credit instrument.

She assured that approximately 790 billion kwanzas are currently circulating in the national market and highlighted the issuance of 1.05 trillion kwanzas from the 2020 series.

The executive considered this amount appropriate for the economy's growth level--explaining why there is no inflationary pressure and growth remains gradual. PBC/DOJ