A Maldives Monetary Authority Monthly Statistics report shows credit extended to the private sector rose steadily through the year, from USD 2.66 billion in January to a peak of USD 3.05 billion in September. In September, tourism received the largest share at USD 972.76 million, followed by construction at USD 713.36 million, while agriculture received the lowest at USD 1.30 million.
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Total lending stood at USD 2.66 billion in January before advancing to USD 2.72 billion in February and holding steady at USD 2.72 billion in March.
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Total lending stood at USD 2.66 billion in January before advancing to USD 2.72 billion in February and holding steady at USD 2.72 billion in March.
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Credit allocations reached USD 2.79 billion in April and remained at USD 2.79 billion in May, before climbing to USD 2.85 billion in June and USD 2.92 billion in July.
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before climbing to USD 2.85 billion in June and USD 2.92 billion in July.
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before climbing to USD 2.85 billion in June and USD 2.92 billion in July.
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The expansion continued through August, reaching USD 2.98 billion before culminating in a peak of USD 3.05 billion in September, the highest monthly lending total recorded this year.
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The expansion continued through August, reaching USD 2.98 billion before culminating in a peak of USD 3.05 billion in September, the highest monthly lending total recorded this year.
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the tourism industry absorbed the largest single share of credit disbursed in September, securing USD 972.76 million in loans, the report underscores.
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Consumer credit extended for personal purposes reached USD 583.66 million.
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The agricultural sector received the lowest credit allocation among all surveyed industries, totalling USD 1.30 million.
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according to a statistical report published by the Maldives Monetary Authority
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