Unemployment Insurance Assets Rise to 530.9 Million Dinars
The article discussed the Shura Council's review of the 2024 Unemployment Insurance Account Budget. The Finance and Economic Affairs Committee recommended approving the financial statements despite some observations. The account achieved a 14.6% increase in its net assets, reaching 530.9 million Kuwaiti dinars, despite an 11.1% decline in total assets. This increase was mainly attributed to a significant decrease in liabilities, while investment revenues experienced a sharp decline of 86.8%. Benefits paid out increased by 16.8%, especially unemployment compensations, which rose by 87.1%. Despite the decline in investment performance, the committee emphasized the importance of reviewing the strategic plan to improve performance and ensure the long-term sustainability of the account, while also stressing the need to enhance transparency and financial disclosure.
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