UAE - Mubasher: Lending to the UAE's public sector increased by 3.1% month-on-month (MoM) in June, when compared to May, Zawya reported.
On an annual basis, the public-sector credit growth rate recorded 23.7% in June 2020, compared to the same month of 2019, as shown by the latest monthly monetary statistics published by the Central Bank of the UAE (CBUAE).
Meanwhile, lending to the government and government-related entities (GREs) rose by 1% MoM and 25.2% year-on-year (YoY) in June.
It is noteworthy to mention that by the end of June 2020, the UAE banks' lending to the private sector declined by 0.7% year-on-year (YoY) to AED 1.139 trillion from AED 1.115 trillion in June 2019.
