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In 2018, domestic credit to private sector in Singapore was 121.9 %. In the ranking by domestic credit to private sector including 151 countries, Singapore has the 14th rank that is close to the positions of such countries as Sweden and the Malaysia. Compared to Hong Kong which at the top of the ranking with domestic credit to private sector of 219.1 % in 2018, Singapore has 44.37 % percent lower domestic credit to private sector.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.