Financing of Kuwaiti imports by local banks sees jump of 31.8%

Financing of Kuwaiti imports by local banks sees jump of 31.8%

KUWAIT CITY, Jan 2: Financing provided to support Kuwaiti imports from local banks has exhibited substantial growth over the 11 months of 2023, demonstrating a notable increase of 31.8% compared to the same period last year. The total financing rose from 7.282 billion dinars during the 11 months of 2022 to an impressive 9.6 billion …

<p>The post Financing of Kuwaiti imports by local banks sees jump of 31.8% first appeared on ARAB TIMES - KUWAIT NEWS.</p>KUWAIT CITY, Jan 2: Financing provided to support Kuwaiti imports from local banks has exhibited substantial growth over the 11 months of 2023, demonstrating a notable increase of 31.8% compared to the same period last year. The total financing rose from 7.282 billion dinars during the 11 months of 2022 to an impressive 9.6 billion dinars in the corresponding period of 2023. This robust growth is particularly noteworthy given the challenging economic circumstances experienced globally. However, it is essential to note that despite the impressive year on- year increase, there was a monthly decline of 12.9%, with the financing dropping from 697.5 million dinars at the end of October to 607.4 million dinars at the end of November 2023. This monthly fluctuation underscores the dynamic