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Friday , January 22 2021

Kuwaitis and Expats spent about KD 24 billion last year

KUWAIT CITY, Feb 10: Citizens and expatriates spent about KD 24 billion ($79.5 billion) last year – around KD 2 billion ($6.6 billion) higher than their expenditures in 2017, reports Al- Rai daily.

The daily culled these figures from reports released by the Central Bank of Kuwait, disclosing the expenditures of citizens and expatriates in 2018 totaled KD 23.8 billion – 8.1 percent or KD 1.7 billion increase compared to the amount they spent in 2017 (KD 22.06 billion).

The direct expenditures of citizens and expatriates using their ATM and credit cards increased by KD 1.4 billion (14.3 percent) – KD 11.4 billon compared to KD 10 billion in 2017. Expenditures through sales points increased by KD 1.3 billion (14 percent) – KD10.4 billion compared to KD 9.1 billion in 2017. Expenditures on goods and services abroad exceeded one billion Kuwaiti dinars, while payment using ATM and credit cards abroad increased by KD128.6 million (14 percent) – KD 1.04 billion compared to KD 918 million in 2017.

ATM withdrawals in and outside the country increased by KD 350.9 million (2.9 percent) – KD 12.37 billion compared to KD12.02 billion in 2017. ATM transactions inside the country increased by KD 347.6 million (2.9 percent) – KD12 billion compared to KD 11.6 in 2017. Cash withdrawals abroad increased by KD 3.3 million (0.9 percent) – KD 366 million compared KD 362.7 million in 2017.

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