Kuwait denies rumors of subsidy cuts amid rising inflation

(MENAFN) Kuwait’s Ministry of Finance has officially refuted the circulating social media rumors regarding the supposed meeting of the "Support Committee" and the planned cancellation of financial support and free services to citizens starting in 2025. The ministry's statement clarified that these claims are unfounded and confirmed that both financial support and free services will continue as usual, without any major alterations. The denial aims to address public concerns and misinformation about the future of government-provided benefits.

In a separate development, recent data from the Central Statistical Administration revealed a 3 percent increase in Kuwait's inflation rate for July compared to the same month last year. The consumer price index also saw a slight monthly rise of 0.15 percent from June. This uptick in inflation is attributed to higher prices in several key categories, including clothing, food, and education. Specifically, prices for "Food and Beverages" surged by 5.89 percent year-on-year, while the "Cigarettes and Tobacco" category experienced a modest annual increase of 0.15 percent.

These economic indicators reflect ongoing price pressures in Kuwait's economy, even as the government reassures citizens about the stability of financial support programs. The contrasting trends of persistent inflation and the confirmation of continued support highlight the complex economic landscape facing Kuwait and its residents.

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