KUWAIT CITY, Jan 7, (KUNA): Kuwait’s exports rose by KD two million ($6.565 million) in December, as compared to the previous year, the ministry of commerce and industry said on Monday. Total exports were worth KD 11.9 million ($39 million) last month, an increase of 28 percent from last year’s figure of KD 9.9 million ($32 million), the ministry revealed in a statement.
It showed that 72 percent of total Kuwaiti exports worth KD 9.3 million ($30.5 million) went to Arab nations, most of which were food commodities, while the United Arab Emirates is the biggest importer of Kuwaiti goods (KD 3.3 million total imports.) As for the rest of the world, Kuwaiti exports to Italy had seen the largest growth, valued at KD 1.1 million ($3.6 million), followed by Turkey and Portugal.
Kuwait Finance Minister Dr Nayef Al-Hajraf said Sunday a draft law at the parliament over early retirement included seven new benefits, and would not affect existing rights. The draft law will not increase retirement age nor years of service, and will allow civil servants to retire early as well as reducing retirement age of females, Al-Hajraf said in a seminar at the Economic Society.
The bill, he added, treated single and married women equally thus allowing them to retire once they completed 15 years of service and 48 years of age. “The draft law is fair and balanced, achieves public benefit for people registered in social security, and provides many retirement options,” he said. Al-Hajraf asserted there would be additional cost but it would be manageable. The National Assembly’s Finance Committee decided earlier today to postpone a vote on the draft law for two weeks for further study.