Agricultural credits represented 0.2%

"At the end of June 2019, loans to housing and agriculture represent only 4.3% and 0.2%, respectively of total bank financing," informs the CNC. The council notes that "funding remains little oriented towards housing and agriculture, despite the importance of these sectors in the economic and social development of the country".

"We need to work to raise the level of new credit facilities and change the funding structure for inclusive growth sectors, especially the housing and agriculture sectors," the TNC says.

Overall, according to data available for the first nine months of the year, economic activity has been dynamic in a context of low inflation. The economic growth rate is expected to be 5.3% in 2019, up 0.2 percentage point from the original forecast, compared with 4.98% in 2018.

This growth will be driven by all sectors, especially the tertiary sector with a contribution of 3.4%, and the secondary sector with a boost of dynamism that has increased its contribution to economic growth to 1.2%.

The performance of the primary sector would be in line with the good performance of food and cash crops, thanks to the support of public authorities in the agricultural sector, as well as the good distribution of rainfall over time and space.

The dynamism of the secondary sector would be driven by manufacturing industries, especially agri-food industries, and extractive industries, which would benefit from increased energy supply.

As for the tertiary sector, it would benefit from the increase in the supply of public administration services, the dynamism of transport and telecommunications, commercial and financial activities, as well as the increased mobilization of tax and customs revenues because of the improved business climate.

The annual inflation rate will emerge, on an average basis (twelve months), at 1.1% in 2019, against 0.9% a year earlier, in connection with the good agricultural season and the moderate level of property prices imports, including the price of oil barrel.


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