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Kuwait after recession, returns as best performing market in the Gulf
January 3, 2018, 5:55 am

A report from the research unit of Kuwait Financial Center — Markaz indicates that Kuwait, after the recession period in the Kuwaiti financial market, has returned in the forefront as the best performing market in the Gulf region, achieving returns of 13 percent from the start of 2017 until October, reports Al-Shahed daily.

According to the report, the declaration to incorporate Kuwait in the FTSE Index for developing market from 2018 came as a motivator, besides various other achievements of Kuwait in the financial control aspect.

The report on food production in the GCC countries, which was issued by the corporate finance and investment advisory company Alpen Capital, expects Kuwait to record rapid annual growth in food consumption in the Gulf region during the period between 2016 and 2021, at a compound annual growth rate of 5.5 percent.

Kuwait has been ranked first in the Arab region and 26th globally in the 2017 Food Security index in accordance with the annual global food index report by “Economic Intelligence” for research. Kuwait also has been ranked top in the Arab world and second globally for consumption of meat with about 119.2 kg per person annually. The United Arab Emirates came second in the Arab world with an average meat consumption rate of about 73.8 kg per person annually, Lebanon came third with 58.5 kg per person and the Kingdom of Saudi Arabia came fourth with 54.4 kg per person.

The Civil Service Commission (CSC) has revealed that the total number of employees in the public sector as of the end of 2017 is 306,030 including 226,269 Kuwaitis (73 percent) and 79,761 expatriates, reports Al-Shahed daily. According to the statistics, there are 143,530 Kuwaiti women working in the public sector and 82,739 Kuwaiti men. Among the expatriate employees in the public sector, there are 39,822 expatriate women and 39,939 expatriate men.

These 306,030 employees are distributed in 20 government bodies in the following manner: There are 699 employees in the Secretariat General of the Supreme Council for Planning and Development, 13,953 in Ministry of Public Works, 8,329 in Ministry of Information, 16,631 in Ministry of Awqaf and Islamic Affairs, 3,175 in Ministry of Commerce and Industry, 113,492 in Ministry of Education and 1,134 in Ministry of Higher Education.

There are 1,777 employees in Ministry of Foreign Affairs, 20,232 in Ministry of Interior, 3,077 in Ministry of Defense, 7,431 in Ministry of Social Affairs and Labor, 63,178 in Ministry of Health, 10,449 in Ministry of Justice, 20,587 in Ministry of Electricity and Water, 3,455 in Ministry of Finance, 8,011 in Ministry of Communications, 602 in Ministry of Oil, 1,006 in Fatwa and Legislation Department, 5,022 in Kuwait Port Authority and 3,790 in Directorate General of Civil Aviation.

Source: Arab Times

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