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Economic and financial situation in Burkina Faso: Increase in loans to the economy by 19.7% in 2022

09/10/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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The Ministry of Economy, Finance and Foresight indicated in a report published on Thursday, October 5, 2023, that the banking system's claims on the economy amounted to 4,254.1 billion CFA francs ($6.8 billion) at the end of 2022, in increase of 19.7%, compared to their level at the end of 2021

.

The rise in claims on the economy contributed in part to the rise in the country's domestic claims, which stood at 4,396.1 billion CFA francs at the end of 2022, an increase of 26.1%. According to the Ministry's report, this increase in claims is explained by the increase in bank loans (+560.9 billion CFA francs) and securities other than shares (+133.2 billion CFA francs). With regard to the specific case of bank loans, banks lent more to the non-bank financial sector (+12.9 billion CFA francs, +35.3%), private non-financial companies (+209.3 billion CFA francs, an increase of +12.2%), to public non-financial companies (+85.4 billion CFA francs, +29.5%) and to households (+253.3 billion CFA francs, +253.3 billion CFA francs

, or +17%).
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