Kuwait: Loans Fall In July But Grow Over Year

2024-09-25 11:30:02

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Loans to financial institutions in Kuwait grew year to date through July compared to the same period last year, according to information published by the newspaper Al-Seyassah on Monday (23). Between January and July, KWD 2.383 billion (equivalent to USD 7.8 billion) were lent, 0.7% more than in the first seven months of 2023.

According to the newspaper, the month of July alone showed a decline in financing granted compared to both June and last year's July. In July this year, KWD 82.5 million dinars (USD 270.1 million) were lent. In June, it had been KWD 105.4 million (USD 345.12 million).

Loans to consumers also increased year to date and are above the total recorded for the entire previous year. From January through July, individual consumers borrowed KWD 2.03 billion dinars (USD 6.6 billion), representing a 3% increase over the KWD 1.97 billion dinars (USD 6.45 billion) granted between January and December of 2023.

Translated by Guilherme Miranda

©Yasser Al-Zayyat/AFP

The post Kuwait: Loans fall in July but grow over year appeared first on ANBA News Agency .

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