Household Debt Skyrockets 10% in a Year, Businesses Struggle

Household debt has seen an increase of approximately 10% over the course of a year, according to the latest report from the Bank of Mauritius.

The report also reveals the level of debt for businesses in various sectors.

The level of household debt, according to the latest figures compiled by the central bank, stands at Rs 160.1 billion.

This is an increase compared to one year ago (Rs 144.36 billion).

Debt of businesses: key highlights

Rs 397.66 billion. This is the total amount of loans granted by commercial banks to businesses in various sectors and individuals.

Including loans advanced to companies operating in the Global Business sector, the total amount rises to Rs 482.74 billion.

Out of this Rs 160.1 billion, Rs 112.6 billion is related to mortgage loans.

Source: Defi Media