Latest News
- Kuwait-Jordan Durra Field Joint Statement Rejected By Iran
- GTD Cracks Down On Vehicle Noise Pollution In Sulaibiya
- Mystery Of Dead Fish At Shuwaikh Beach Sparks Urgent Action
- MEW To Complete Links With The Interior And Justice Ministries B...
- 8 Expats Jailed For Bribing An Officer To Obtain Driver's Licens...
- Weekend Weather Is Expected To Be Hot
- From Tomorrow, Traffic Diversion On Third Ring Road
- Ministry Of Health Refute Rumors On Non-availability Of Antibiot...
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
Kd 1.9 Billion Deferred Government Payments Due To Lack Of Liquidity
The size of delayed payments to government institutions due to lack of financial liquidity until the end of last October was about KD 1.9 billion and the institutions have requested the Kuwait Investment Authority to borrow from the General Reserve Fund about KD 1.4 billion to cover special expenses during November, including to cover part of expenses that could not be met during October.
Well-informed financial sources told Al-Anba the deferred payments to finance government agencies come within the framework of the Ministry of Finance’s prudent management of the liquidity file, according to strategies characterized by the optimal use of available financial resources, and it is expected at the same time to achieve a positive impact on liquidity rates, leading to a reduction in the budget deficit with the recent improvement in oil prices which crossed the 80 dollars per barrel barrier.
The sources indicated that, last month, the Kuwait Investment Authority provided an estimated KD 350 million liquidity to finance the claims of government agencies, in addition to KD 850 million for salaries, indicating at the same time that payments for more than 17 different government agencies are deferred.
The social insurance has largest share of 28% of the total claims, worth KD 533 million of which KD 94 million are special obligations for the month of October, in addition to KD 439 million earlier obligations.
The Ministry of Electricity and Water comes in second place with 16% of the total deferred payments, amounting to KD 308 million This money is related to fuel to operating the power stations, followed by the Public Authortity for Housing Welfare with 11% or KD 215 million in addition to about KD 128 million to some affiliated authorities, and in the fifth place comes the Ministry of Education with about KD 105 million
Â
SOURCEÂ Â :Â Â TIMES KUWAIT
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Thief Returns Stolen Money With An Apology Letter...
15 April 2024
Comments Post Comment