99.5% of Kuwaiti employees are borrowers

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99.5% of Kuwaiti employees are borrowers

Kuwait City, Oct 28: A government study prepared by the global consultant McKinsey Company revealed that the number of Kuwaiti borrowers is about 447,000, representing 99.5% of the workforce of nearly 450,000 citizens. Reported by Al-Rai.

In its study, McKinsey analyzed the data of consumer and installment loans, and relied, in this regard, on a database at the level of each individual customer, including the data of the credit information network company, in addition to credit bank customers, while “credit” customers who did not borrow from banks or banks were excluded. financial institutions.

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McKinsey pointed out that the youth group between 25 and 34 years old borrowed the most with an average debt of 22,122 thousand dinars, noting that there are 60,000 borrowers aged 55 years, who constitute 17% of the workforce, noting that 350 thousand clients have a debt burden ratio of more than 30%. percent.

They explained that the percentage of monthly installments to the net salary or continuous monthly income amounted to about 27.7 percent, compared to 28.3 percent in the event that the continuous monthly income was not taken into account, compared to the 40 percent prescribed as a maximum monthly deduction from the salary, in addition to that the average consumer loan is 3600 Dinars and the installment is 23 thousand.

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