Barrels of oil are pots of gold for Kuwaitis

Oct 31, 2004 02:00 AM

It may be costing more to fill your gas tank these days, but the rising price of oil is good news for people in Kuwait. The government decided to give every citizen $ 680 from the country's rapidly rising oil wealth.
While the one-time bonus was not directly linked to oil revenues, it was believed to be a response to demands to increase the salaries of civil servants.

The cabinet has been reluctant to raise salaries for fear of creating inflation. The government was predicting a budget shortfall for 2004-2005, but with rising oil income, Kuwait is now expecting a $ 7.82 bn US surplus.
About 900,000 Kuwaitis will receive the payments. The rest of the country's 2.4 mm residents are foreign workers.

Source: CBC News Online
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