Data issued by the Central Bank of Kuwait showed that the foreign reserves of Kuwait increased on an annual basis by 26.5 percent last November, up from 11.5 billion dinars (37.9 billion dollars) during the same month of 2019. The reserves included about 13.699 billion dinars ($ 45.14 billion) balance of deposits and currencies, 564.5 million dinars ($ 1.86 billion) special drawing rights for Kuwait with the International Monetary Fund, and 214.8 million dinars ($ 708 million) balance with the "International Monetary".
On the other hand, Kuwait's foreign reserve assets decreased on a monthly basis during last November, by 1.6 percent on a monthly basis. Where reserve assets decreased to 14.51 billion dinars (48.82 billion dollars) last November, compared to 14.74 billion dinars (48.57 billion dollars) in the previous October.
Kuwait’s foreign reserves of gold (calculated at book value since its purchase) amounted to 31.7 million dinars (104 million dollars) last November. Note that the Kuwaiti Central Bank owns 79 tons of gold, according to the World Gold Council, and its market value exceeds $ 5 billion, according to the price of an ounce, which is currently around $ 1900.
Kuwaiti public finances are witnessing sharp declines in revenues, amid an expected deficit of the government in paying the salaries of its employees for the coming months, as crude prices are affected and expenses rise.
Source (Anadolu Agency, Edited)
