Financing of the Tunisian economy experienced contained growth in 2024. According to the annual report on banking supervision published Saturday by the Central Bank of Tunisia (BCT), the total outstanding loans reached 118.6 billion dinars, an increase of 2.8%, an identical pace to that observed in 2023.
Credits more oriented towards the public sector
The BCT’s analysis shows a marked increase in credits granted to public companies, whose share increased from 8.3% to 9.5% of the total in one year. On the other hand, financing of private companies remained stable, with growth limited to 1.5%, confirming the caution of the banking sector in the face of a still fragile economic environment.
This trend reflects a refocusing of credit on institutional players, often perceived as less risky, in a context of slowdown in private investment and pressure on bank liquidity.
On a sectoral level, the distribution of credits to professionals shows a favorable development for the service and agricultural sectors, to the detriment of industry. This reorientation reflects the structural changes in the Tunisian economy, marked by increasing tertiarisation and persistent difficulties in the industrial fabric.
Personal debt continues to slow
Loans to individuals totaled 29.4 billion dinars in 2024, compared to 28.8 billion a year earlier, an increase of 2.3% (compared to 3.1% in 2023 and 4.8% in 2022). This deceleration is mainly explained by the clear slowdown in home loans, whose growth was limited to 0.8%.
The share of household loans remains stable at 24.8% of total loans, while their weight in GDP declines slightly, from 19.3% in 2023 to 18.5% in 2024.
Understanding outstanding loans
For non-specialists, the term “outstanding loans” refers to the total amount of loans granted by banks and which have not yet been repaid. In other words, this is the overall sum of debts still outstanding with the banking system, whether loans to businesses or individuals.
This indicator is essential for measuring the level of financing of the economy and assessing credit dynamics: an increase in outstanding amounts reflects an increase in the volume of loans granted, while stagnation can signal a slowdown in economic activity or a stricter monetary policy.
Despite moderate economic growth and persistent price pressures, the Tunisian banking system displays a certain resilience. The stability of the pace of credit expansion reflects a prudent monetary policy by the BCT, aimed at containing debt-related risks and maintaining the balance between supporting the economy and preserving financial stability.
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