In 2018, domestic credit to private sector for Singapore was 121.9 %. Domestic credit to private sector of Singapore increased from 41.8 % in 1969 to 121.9 % in 2018 growing at an average annual rate of 2.43 %.The description is composed by our digital data assistant.
Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, such as through loans, purchases of non-equity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.