KUWAIT: The Public Authority for Civil Information (PACI) issued the latest detailed statistics on population and employment at the end of June 2024. The data shows that total population in Kuwait reached 4.919 million people at the end of June 2024, recording a semi-annual growth of 1.2 percent or an actual increase by 59,900 people compared to the end of 2023 at 4.860 million people. The total number of population achieved an increase by 2.6 percent in 2023 compared to a greater rise of 8.0 percent in 2022.
The Kuwaiti population increased during the first half of 2024 by 13,700, with a growth rate of 0.9 percent (1.8 percent expected annual rate), bringing their total number to 1.560 million people with their percentage slightly decreasing out the total population from 31.8 percent at the end of 2023 to 31.7 percent according to the latest figures. The number of Kuwaiti females amounted to 794,000, exceeding the number of males at 765,900.
The number of the non-Kuwaiti population rose by 45,300, a growth rate of 1.4 percent and reached 3.359 million people, with a compound annual growth rate during the period of 2015 – June 2024 at 1.6 percent. The total number of workers in Kuwait reached 3.044 million workers or 61.9 percent of the total population, while this percentage for Kuwaitis reached 32.5 percent of the total Kuwaiti population, and it is noted that the percentage of non-Kuwaiti workers out of the total non-Kuwaiti population reached 75.6 percent.
The percentage of Kuwaiti workers in the total number of workers in Kuwait slightly increased from 16.5 percent in June 2023 to 16.6 percent in June 2024, while the percentage of female employment in the total Kuwaiti labor force declined to 51.2 percent at the end of June 2024 versus 51.4 percent at the end of June 2023, as the percentage of female employment out of the total workforce in Kuwait reached 30.1 percent.
Number of Kuwaiti workers increased by 16,400 - bringing their total to 506,400 workers versus 490,000 workers at the end of June 2023. The number of employees within the government reached 404.4 thousand workers or 79.9 percent of the total number of Kuwaiti workers, and that percentage is different than the 84 percent stated by the Central Statistical Bureau and both are governmental bodies.
The number of jobs for Kuwaitis outside the government sector decreased by 991 jobs or by -1.4 percent compared to the end of June 2023. It is believed that the blatant unemployment of Kuwaitis has increased to 29,900 workers or 5.90 percent of the total Kuwaiti employment in June 2024, compared to 28,200 workers or 5.75 percent at the end of June 2023. Total number of workers (Kuwaiti and non-Kuwaiti) in the government sector amounted to 516,400 or 10.5 percent of the total population, and the percentage of Kuwaitis working in the government sector 78.3 percent.
Fiscal Year 2023/2024
In a commendable move, the Ministry of Finance issued the final account figures for the fiscal year 2023/2024. Though it issued it early for the second consecutive time in July, it could have issued it earlier. The statement’s figures indicate that actual expenditures reached KD 25.206 billion, a saving of about KD 1.073 billion over the estimated figures in the general budget at KD 26.279 billion. Actual revenues reached KD 23.645 billion, an increase by KD 4.178 billion over the budget estimate at KD 19.467 billion.
This reduced the estimated deficit figure from KD 6.812 billion to an actual deficit of KD 1.561 billion in the final account. While the ministry is credited with achieving savings in expenditures out of its role in reducing the deficit figure, the savings came from increase in oil revenues due to the intensification of geopolitical events.
The Ministry of Finance estimates the cost of producing a barrel of oil for the past fiscal year at $11.8, and not knowing how much it will be after reducing the production level for the current fiscal year. History confirms that the cost is continuously increasing, which means the net oil revenues will continue to decrease. The final account statement mentions that Kuwait has achieved actual deficits in its budgets in 8 of the past 10 fiscal years, and achieved a surplus in 2 fiscal years.
Most of the surplus resulted from exceptional events. The accumulated deficit for the ten fiscal years (2014/2015 - 2023/2024) totaled KD 29.53 billion. Reading the budget performance based on its final accounts confirms that the composition of its expenditures is changing for the worse. The final account for the past fiscal year distributes it as 81 percent salaries, wages and subsidies, 8 percent capital expenditures, and 11 percent other expenditures.
This means that the flexibility of controlling expenditures is close to zero. Its benefit in supporting economic performance and creating job opportunities is minimal. On the revenue side, the developments in the deficit and surplus in the accounts of the last ten fiscal years confirm that they are just two variables that are almost entirely dependent on the movement of oil prices and production. Besides, they are variables beyond the control of the public administration.
There is nothing new in the figures of the final account except the reiteration of the emphasis that the reform efforts in the past and present, and the modest reform intentions in the future, either have failed or will fail, in achieving the target of diversifying sources of income. — Al-Shall report