The assets of local banks increased by about 10 billion dinars from the end of 2017 until the end of last year, as they rose in 4 years from 63.41 billion dinars in 2017 to KD 73.33 billion at the end of 2020, a growth rate of 15.64%.
According to the statistical bulletin issued by the General Administration of Statistics, private sector deposits were about 37.33 billion dinars at the end of December 2020, compared to 35.38 billion dinars at the end of 2017, at a time when government deposits were KD 7.94 billion, up from KD 6.75 billion for the same period.
The bulletin presented the part related to the financial sector of the Kuwaiti economy, bank statistics and monetary statistics related to the assets and liabilities of the Central Bank of Kuwait, local banks and bank deposits.
The sources pointed out between 2017 and 2020, the country’s GDP rose to KD 41.34 billion in December 2019, compared to KD 36.6 billion in 2017, i.e. a growth of 12.9%, pointing out that the per capita GDP rose from 8005.2 dinars in 2017 to 9029.5 dinars in 2018, before declining to 8,657 dinars in 2019.
The sources explained the contribution of the oil sector to the GDP was 18.774 billion dinars at the end of 2019, equivalent to 45.34% of the GDP, compared to 22.6 billion dinars for the non-oil sector, which constituted 54.66%.
On the other hand, the statistics reported that the total revenues rose from 15.99 billion dinars in the fiscal 2017/2018 to 17.22 billion dinars in 2019/2020, while expenditures grew from 19.24 billion dinars to 21.14 billion.
The statistics stated that the number of Kuwaiti workers in the government sector increased from 287.23 thousand in 2017 to 323.35 thousand in 2020, while the number of non-Kuwaitis in the government sector decreased from 102.43 thousand at the end of 2017 to 97.51 thousand in December 2020, bringing the total number of workers in the government sector to about 420.86 thousand people.
In the private sector, the number of Kuwaitis increased from 76.61 thousand in 2017 to 73.3 thousand in 2020, while the number of non-Kuwaitis grew from 1.547 million in 2017 to 1.62 million at the end of 2020.
In its bulletin, the statistics added that the population of Kuwait rose from 467.33 thousand people in 1965, of whom Kuwaitis are about 36.1 percent, or 168.79 thousand, to 4.46 million people in 2020, of whom non-Kuwaitis constituted about 3.09 million compared to 1.36 million citizens.
The statistical bulletin issued by the General Administration of Statistics pointed to the development of social welfare services provided by the government in all fields during the past years with the aim of providing a better life for citizens, deepening their sense of social solidarity and protecting them from problems that threaten their stability.
It showed that the average family share of government aid in 2019 was about 5.32 thousand dinars, for each family out of a total of 41.37 thousand families, according to the figures of the Ministry of Social Affairs, with a total value of 219.96 million dinars.
