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Kuwait money supply growth up 13.1pc in Dec

Kuwait, January 25, 2010

Kuwaiti money supply growth (M3) accelerated to 13.1 per cent at the end of December, from 11.4 per cent in the previous month, data showed on Monday.

M3, the broadest measure of money circulating in the economy, rose to KD24.89 billion ($86.81 billion) in December, compared with KD22 billion a year earlier, the central bank said in a monthly bulletin.

Narrow money, or M1, rose 7.78 percent to KD4.71 billion.

Quasi money -- which includes savings and time deposits in dinars, as well as foreign currency deposits -- rose 14.8 per cent to KD20.18 billion, the data showed.

Banks' total claims on the private sector, which also include their local investments, advanced 6.09 per cent in the year to December to KD27 billion.

Total credit facilities concluded with residents fell 11.9 per cent in the year to December to KD844.2 million -- down from KD894.1 million in November. – Reuters




Tags: Kuwait | money supply | M3 | December |

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