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Saturday , August 24 2019

Hike in value of state assets by 5.1pc

KUWAIT CITY, July 4: The value of the state assets has reached KD 187 billion as of end of last fiscal year compared to KD 178 billion in the fiscal year that ended on March 31, 2018, reports Al-Qabas daily quoting sources from the financial sector.

They explained that the increase in the net assets is 5.1 percent. The state assets of the public reserve reached KD 24 billion with a decrease of KD 2 billion compared to the 2017/2018 fiscal year.

The reserve for the future generations has reached KD 161 billion, with an increase of KD 6 billion and about 4 percent compared to the 2017/2018 fiscal year, resulting in the highest balance in the reserve since the last 29 years from the 1990/1991 fiscal year.

The value of the financial commitments of last fiscal year reached about KD 17 billion, with a decrease of KD 2 billion compared to 2018.

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