MoSA disburses KD 22,006,491 monthly for granting social aid

Experts rule out ‘recession’

KUWAIT CITY, Aug 18: Director of Family Care Department in the Ministry of Social Affairs (MoSA) Hayat Al-Failkawi said the ministry disburses KD 22,006,491 monthly for granting social aid to 43,304 cases – 49,486 individuals – according to the statistics released in June, reports Al-Rai daily.

Al-Failkawi confirmed the ministry is implementing a mechanism to receive installments for debts if social aid is continuous.

In case social aid is stopped, the ministry will contact the employers of debtors to deduct payment from their salaries, she added.

She asserted the department is keen on transforming consumer families that depend on social aid to producer families depending on themselves.

Economic experts ruled out the possibility of economic recession in the coming period, similar to the 2008 crisis, reports Al-Anbaa daily.

In different statements to the daily, Finance Professor at Kuwait University Dr Saoud Al-Thaqeb affirmed that Kuwait has good standing in various indexes including upgrading of the bourse and this may cover the current world fluctuation.

On the other hand, financial analyst Ahmad Al-Qamar explained there is no reason for the 2008 collapse to recur, indicating the global economy may witness recession in the coming years.

Talking about Kuwait, he revealed the country is still getting bigger returns from the long term bonds contrary to the federal.

In addition, economic expert Badr Al-Rashid said the withdrawal of companies’ investments, decline of consumers’ expenditures and continuation of the commercial crisis between USA and China might lead to global economic recession.