Latest Kuwait News
Kuwait vows to combat inflation caused by hike in rentals and realty prices
Kuwait has come forward to take measures to combat hike in real estate prices, and ensure decent living standards for citizens, after high inflation levels hit the state, reports KUNA.
Annual inflation, hit a record 6.2 percent during September, due to a surge in rental costs. The Prime Minister, Sheikh Nasser Al-Mohammad Al-Sabah, during his cabinet meeting emphasized that the government and parliament would focus in speeding up the major projects that would tackle the rise in residential land prices, and would take measures in ensuring welfare of citizens.
The Finance Minister, Mustapha Al-Shimali, hinted that the government may also consider raising salaries for the public sector towards end of next month, as more than 90 percent of Kuwaitis work in public sector.
The government has also expressed interest in conducting a study together with World Bank, on cost of living in Gulf Arab States, before considering the public sector pay-hikes.
Social Bookmarking
Read more news
> Waiting list for housing in Kuwait touches record numbers
> Avenues Mall turning into top shopping and leisure destination
> 360 Mall wins coveted ICSC Gold Award
> Interior Ministry plans granting citizenship to eligible illegal residents
> Labour Ministry working on self-sponsorship law for expatriates
> Subbiya - Second City in Kuwait
> Kuwait may grant citizenship to 34,000 illegal residents
> Work permit, transfer applications suspended temporarily
> More than 50 Kuwaiti firms participate in Career Fair 2011
> e-gate website offers e-governmental services round-the-clock