Bank credit to the private sector in Mauritius
All bank loans to households and businesses, compared with the size of the economy.
Where it stands
About 72% of GDP: a deep banking sector by African standards.
What it means
Credit fuels investment and spending, but if it grows much faster than incomes, debt becomes a risk. Today's level is moderate; the thing to watch in 2026 is whether households start borrowing simply to keep up with the cost of living.
Recent years
| Year | Bank credit to the private sector |
|---|---|
| 2021 | 85.4% |
| 2022 | 72.4% |
| 2023 | 69.9% |
| 2024 | 69.9% |
| 2025 | 72% |
Why it moved
2021: Inflated because GDP had collapsed (a smaller denominator) while loans were kept alive by repayment moratoria.
2022: Fell as GDP rebounded faster than lending.
2023: Higher interest rates cooled new borrowing.
2024: Flat.
2025: Lending picked up again, slightly faster than the economy.