Go Finance Reporting - Emir of Kuwait Sheikh Sabah al-Ahmad Al-Sabah ordered the cabinet to provide a budget of $ 4 billion and free food for 14 months for its citizens.
Action was made leader of the oil-rich countries such as the preparation for the fifth anniversary of the reign of Sheikh Sabah as well as anticipation of soaring food prices in the country. According to news agency KUNA, cash funds from the Emir of Kuwait that will be provided to 1.12 million indigenous citizens of each of 1,000 dinars ($ 3, 572) or about Rp34 million.
"The staple food is valid until March 31, 2012," said Minister of State for Cabinet Affairs Rudhan al-Rudhan as quoted by AFP.
The announcement was made after a cabinet meeting on Sunday (16 / 1) night. But in the program, foreign residents in Kuwait, which accounted for 2.4 million people do not include free food aid recipients and it. Like many other developing countries, Kuwait recently experienced inflation caused by rising prices of goods.
In November of last year Kuwait's inflation rate reached 5.9 percent, the highest in 20 months sparked food prices which reached 12.3 percent. The fifth biggest manufacturer of Organization of Petroleum Exporting Countries (OPEC) had the highest budget surplus recorded in 11 years with a total of more than $ 140 billion. This year, Kuwait's budget surplus is predicted to increase along with rising oil prices.
Kuwait is known as one of the Gulf state which provides welfare system is quite good for its citizens. Among the subsidy provided is public service and fuel oil subsidies and exemption of income tax payments. About 80 percent of Kuwait than 360,000 labor force worked in government agencies with an average monthly wage is more than USD3.500. (GoFinance)
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