Latest News
- Checdking's$with Special"s & Characters#update
- Testing New's To Check's Utf "issue"#update
- Palestine Full UN Entry Backed By Kuwait
- Expatriate Clicks On Link, Loses All Savings
- Kuwait Weekend Weather: Hot Weather And Scattered Rain
- Former MP Tabtabaie Goes To Trial On May 20
- Missing Algerian Man For 25 Years Found And Held Captive By Neig...
- Citizen Detained For Alleged Involvement With A Banned Group
- Kuwait And Ethiopia To Sign MoU For Domestic Workers Recruitment
- Service Bureau Announces Training Plans For Employees And Gradua...
- Filipino Worker Remittances Decline In Kuwait
- Health Ministry Reaffirms Commitment To Modernizing Healthcare S...
Kuwait Has The Lowest Loan Defaulters Level In The World
Chairman of the Board of Directors of AlShall Economic Consultants (AEC) Jasem Al-Sadoun says Kuwait has the lowest loan defaulters’ level in the world, as it does not exceed two percent of the total loans granted, reports Al-Nahar daily.
He affirmed that the calls for dropping the loans contradict the principle of justice and equality as well as the right of the future generations which will be in need of the money for educational purposes, and the labor market instead of wasting the money on the current generation.
Al-Sadoun stressed that the current economic conditions is one among the reasons for rejecting the calls for dropping loans, highlighting the reduction of oil prices by half compared to the prices five years ago. He explained that the price of a barrel of oil in December 2018 was $56.6 per barrel, and $103.5 in 2013. The expenditures in the 2018/2019 fiscal year was about KD 21.5 billion and in the 2013/2014 fiscal year was KD 21 billion. This means Kuwait has been spending amounts close to the current fiscal year despite the fall in the oil prices.
Trending News
-
Ministry Systems Hacked, Electricity Bills Altered
11 May 2024
-
Kuwait Unveils Monumental Solar Energy Project For...
06 May 2024
-
Expatriates Caught On Video Stealing Electricity W...
11 May 2024
-
Team To Inspect New Airport's Solar Panel Installa...
12 May 2024
-
Gulf Electrical Interconnection Project Will Boost...
04 May 2024
-
Issuing Work Permits Based On Academic Certificate...
07 May 2024
-
Kuwait Banks Seek Clarity From Central Bank On Cit...
04 May 2024
-
Kuwait Cracks Down On Bachelors
02 May 2024
-
Eid Al-Adha Holiday In Kuwait: Potential 9-Day Bre...
15 May 2024
-
Kuwait Organizes 30 Events To Protect Children Fro...
04 May 2024
Comments Post Comment