Highlighting the significant increase in credit levels and the record-setting month.

Private Sector Credit in Tanzania over the years, emphasizing both the historical trends and the recent changes in credit levels. It's worth noting that changes in private sector credit can be influenced by various economic factors, including interest rates, inflation, government policies, and overall economic conditions:

Private Sector Credit in October 2023:

• The amount of credit extended to the private sector in Tanzania increased to 31,216.40 TZS (Tanzanian Shillings) Billion in October 2023.

Comparison with September 2023:

• This figure represents an increase from the previous month, as in September 2023, the Private Sector Credit was 30,791.30 TZS Billion.

Historical Average:

• The average Private Sector Credit in Tanzania from 2009 until 2023 is reported to be 14,915.27 TZS Billion. This average is calculated over the mentioned period.

All-Time High:

• The data indicates that the Private Sector Credit in Tanzania reached its all-time high in October 2023 at 31,216.40 TZS Billion. This is the highest value recorded during the specified period.

Record Low:

• The record low for Private Sector Credit in Tanzania occurred in February 2009 when it was 4,586.90 TZS Billion. This suggests a significant decrease in credit during that specific month.

Private Sector Credit in Tanzania reveals key points about the financial dynamics in the country:

Increasing Trend in October 2023:

• In October 2023, Private Sector Credit increased to 31,216.40 TZS Billion, indicating a positive trend in credit extension to the private sector. This could be influenced by factors such as economic growth, increased demand for loans, or favorable lending conditions.

Month-to-Month Comparison:

• The comparison with September 2023 shows a month-to-month increase in Private Sector Credit, suggesting ongoing financial activity and potential economic expansion during this period.

Historical Average and All-Time High:

• The historical average of Private Sector Credit from 2009 to 2023 is 14,915.27 TZS Billion, and the all-time high was recorded in October 2023 at 31,216.40 TZS Billion. This indicates that the credit level in October 2023 significantly surpassed the long-term average.

Record Low in February 2009:

• The record low of 4,586.90 TZS Billion in February 2009 suggests a period of reduced credit activity, possibly reflecting the impact of economic challenges or financial crises during that specific month.

Economic Indicators:

• Private Sector Credit is often considered a crucial economic indicator. An increase in credit may signify confidence in the economy, investment opportunities, and business expansion, while a decrease may indicate economic challenges or cautious lending behavior.