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03 December 2023

Kuwaiti money supply growth decelerates to 11.4%

Kuwaiti money supply growth decelerates to 11.4%. (SUPPLIED)

By Reuters

Kuwaiti money supply growth decelerated to 11.4 per cent at the end of November, from 15.7 per cent in the previous month, data showed yesterday.

M3, the broadest measure of money circulating in the economy, rose to KD25.02 billion ($87.1bn, Dh319.6bn) in November, compared with KD22.4bn a year earlier, the central bank said.

Narrow money, or M1, rose 6.81 per cent to KD5bn. Quasi money – which includes savings and time deposits in dinars, as well as foreign currency deposits – rose 12.8 per cent to KD19.97bn.

Banks' claims on the private sector, which also include their local investments, rose seven per cent in the year to November to KD27.1bn.


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