Republic of the Congo’s credit to private sector was 13.8% of GDP in 2023.

Neither way is good in itself. A higher share can mean firms and families have more access to finance to invest and spend, and it also means more debt to repay. A lower share can mean thin access to credit or cautious lenders. The latest figure, for 2023, is 13.8% of GDP, up from 12.8% of GDP a year earlier. Since 2014 the range has run from a low of 11.2% of GDP in 2014 to a high of 17.9% of GDP in 2016, so the current level sits nearer the bottom of that span.

Why it matters. At 13.8% of GDP, private borrowing in the Republic of the Congo is small relative to the size of the economy. Households and small firms are likely to depend mostly on their own savings, family networks or informal lenders to finance purchases and expansion. For the state, a shallow credit market means banks add little extra demand to the economy and little extra risk. The rise from 2022 is still well short of the 2016 peak.