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Wednesday , February 8 2023

KD 225.2 million spent on food and construction subsidies in 2021

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KUWAIT CITY, Apr 10: According to official data issued by the Ministry of Commerce and Industry, the total value of subsidy spent by the ministry on food and construction materials in the year 2021 amounted to KD 225.2 million, reports Al-Anba daily.

Supporting construction materials acquired the largest share of the expenditure, which amounted to KD 137.3 million, or more than 50 percent of the total expenditure volume. The spending on food subsidies during the same period amounted to KD 78.9 million.

The data showed a remarkable growth in the volume of spending on subsidizing construction materials in 2021. The spending on subsidizing these materials amounted to KD 5.1 million in January, then KD 5.6 million in February, KD 5.3 million in March, KD 5.4 million in April, KD 6 million in May, KD 8.5 million in June, followed by successive jumps to reach KD 12 million in July, KD 13 million in August, KD 16.4 million in September, KD 18 million in October, KD 20.4 million in November, and KD 21.5 million in December.

This is a clear indication of the growth in the construction and building movement that the residential sector witnessed during the second half of the year starting from July until the end of the year, coinciding with the launch of building permits for new suburbs in the Multa Residential City.

As is well known, the Ministry of Commerce and Industry subsidizes nine basic food supplies – rice, sugar, lentils, corn oil, milk powder, baby food (21 types), tomato paste (two types), and frozen chicken (20 types). It also provides subsidies for construction materials that include six basic and seven optional materials.

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