Private-sector credit grew just 7.1 percent in July from 17.8 percent in December of last year, the central bank said in September. That is well below what the central bank says is ideal credit growth of 12 to 15 percent. "We have moderated our growth (forecast) in 2017 to slightly over 6 percent. "We don't see credit growth affecting growth especially for 2016," he said. READ MOREMost of the economic growth momentum was driven by public- sector investment, he said.

Source: Standard Digital November 24, 2016 05:34 UTC