Kuwait: $14bn of expatriate money transferred in 2019

      Published on Monday, 20 January , 2020      62 Views     

  • Kuwait Business

Money transfers by expatriate workers in Kuwait on an annual basis in 2019, remained the same as in 2018.

Kuwaiti newspaper Al-Qabas quoted sources that are well-informed on the balance of payments for the State of Kuwait, stating that the value of workers’ money transfers in the country is expected to be around 4.3 billion Kuwaiti Dinars ($14.2 billion) in 2019, which is the same transferred amount as in 2018.




The newspaper pointed out that these money transfers:

“Have not been much affected by the decline in oil prices, the increase in fees, or some replacement attempts by the government in recent years to increase the settlement of national workers to replace expatriates.”

During 2017, money transfers of expatriate workers in Kuwait decreased by 9.2 per cent on a yearly basis, to 4.14 billion Kuwaiti Dinars ($13.7 billion), compared to 4.56 billion Kuwaiti Dinars ($15 billion) in 2016.

Expatriates represented approximately 69 per cent of the total population of Kuwait by the end of June 2018, estimated at 4,588,148 people, according to the statistics issued by the Public Authority for Civil Information, while the statistics of 2019 have not yet been released.



 

Keywords:
Category Kuwait Business | 2020/01/20 latest update at 1:39 PM
Source : МЕМО | Photocredit : Google
63 Views
Comments Add comment



БГ Медия - Медия за Българите в Лондон
Bulgarian Business Club

Related Articles

The editorial staff of Bulgarian Business Club would like to give all of its readers from Bulgaria and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Bulgarian Business Club with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter or use our RSS feed channel to always read the most important news about Bulgaria.


Sponsored Publications