LOC19:31
16:31 GMT
(With POL-KUWAIT-NA-BUDGET series)
KUWAIT, July 4 (KUNA) -- Finance Minister Bader Al-Humaidhi said Wednesday
the nation's liberation and reconstruction loan has decreased by 60 percent to
reach 8.951 billion Kuwaiti Dinars (KD) after being KD 22.191 billion.
In a press release after a closed-door supplementary sitting to discuss
Kuwait's financial status, Al-Humaidhi said during the past five years, net
assets of future generations reserve increased from KD 15.405 billion to KD 50.
147 billion, which was a 226 percent hike during that period and a 30 percent
increase in comparison with 2006.
Net profit for reserves of the fiscal year ending on March 31 of 2007
reached KD 8.229 billion, a 23 percent over 2006.
General reserve net profit increased by 16 percent to reach KD 11.221
billion, while net reserves assets increased by 28 percent to total KD 61.368
billion during 2007.
The net profit of future generations reserves gained 20 percent by
increasing from KD 4.283 billion in 2006 to KD 5.130 billion in 2007.
The net profit of general reserves increased by 30 percent to reach KD 3.99
billion in 2007.
During the past five years, the return on future generations reserves
recorded a net profit of KD 13.726 billion with an annual return rate of 10.8
percent.
For fiscal year 2006-2007, the return on future generations reached 13.34
percent in comparison to 15.45 percent during fiscal year 2005-2006.
The return on general reserves achieved 32.07 percent in 2006-2007 while it
achieved 32.81 percent the year before.
The budget of fiscal year 2006-2007 achieved a surplus of KD 3.652 billion
in comparison to KD 5.493 billion in the previous year.(end)
ms.mab.abd.ayh
KUNA 041931 Jul 07NNNN