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FINANCIAL NEWS
Bahrain’s lending to go up further in 2011
04 Aug 2011
(MENAFN) An executive director at the Central Bank of Bahrain (CBB), Khalid Hamad, said that as the political unrest in the country is easing, lending is expected to increase again towards the end of 2011, reported Gulf Daily News.
Hamad said that the number of lending requests as well as their volume is expected to see growth in the second half of the current year. He added that the large budget that was set for 2011 would probably lead to economic growth, which would thus lead to more lending. In May, Bahrain approved a 44 percent increase in government spending in the years of 2011 and 2012, compared to the previous two-year period.
It is worth noting that the CBB issued data showing that private sector credit was up by 9 percent year-on-year at the end of March, 1.5 percent decrease in the same period of the previous year.
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