Thursday , September 20 2018

Need to reduce burden of wage bill by 30 % – Public expenditure reached KD 18.9 billion

KUWAIT CITY, Dec 21: Studies conducted and submitted by the General Secretariat of Supreme Council for Planning recommend the need for structuring employment in the country in order to reduce the burden of salaries by 30 percent over the next few years by opening avenues for employment in the free sector and also supporting the private sector to attract the glut of graduates to cater for the needs of the labor market, reports Al-Nahar daily.

Such studies were conducted based on the fact that salaries and subsidies constitute about 70 percent of Kuwait’s total public expenditures in the previous 2016/2017 fiscal year, reaching up to KD 18.9 billion. Meanwhile, sources disclosed that the State Properties Department is preparing a file to identify lands in various areas in order to meet the demands for the future projects that will support the strategies for sustainable development and Kuwait Economic Vision 2035.

Some of the areas in the file include South West Sabhan, North Jahra, West Mutla, Salmi and some inner areas which are tipped to be allotted for national projects and youth initiatives.

Please follow and like us:

Check Also

Large portion goes in paying public employees’ salaries

Kuwait public spending highest in the Gulf region based on GDP KUWAIT CITY, May 31: …

Translate »
Social media & sharing icons powered by UltimatelySocial