Business credit uptake to bottom out in low business confidence remains in the economy

February 8, 2018, 5:01pm

Following a downward trend on credit extended to business ahead of December 2017 experts are optimistic of marginal increases in borrowing in the2018 business calendar.

“We expect the PSCE growth figure to bottom out this year and that borrowing will improve marginally in 2018, largely due to the low base set in 2017. Going forward we do not expect to see the double digit growth figures witnessed over the last decade, but rather a more moderate 8-10% growth over the next three years,” says senior researcher at Cirrus, Dylan van Wyk. 

Despite central bank governor, Iipumbu Shiimi rallying business to off-take credit and allow for more breathing in the contracted economy, business confidence remained at a low.