Growth in the money supply (M2) was the highest in a year in February, at 5.2% year on year and 6.3% month on month, owing to an 18.9% month-on-month increase in the Central Bank of Kuwait's net foreign assets. The money supply was also boosted by a KD1,000 (US$3,500) grant for all Kuwaiti citizens (awarded by the emir), which was deposited into their accounts in late February. Money supply growth was 0.1% month on month and 5.3% year on year in March. The grant was also reflected in the large month-on-month jump in sight and savings deposits, of 13.2% and 13.7% respectively.

Despite faster money supply growth, lending remains weak. Lending to the private sector increased only slightly in February and March, by 0.1% and 0.3% respectively, in month-on-month terms. Local bank cash credit facilities for consumers continued to grow at double-digit rates, registering a 14.7% year-on-year increase in February (0.5% in month-on-month terms). Personal loans for purchases of securities fell by 5.7% year on year in March (and by 1% month on month), while real estate loans were up slightly in year-on-year terms, by 1.2%, but down on a monthly basis, by 0.4%. Despite ample liquidity in the market and low interest rates, lending has remained weak, with ongoing uncertainty over the financial sector and investment companies in particular.