$ 4.3 billion in Kuwaiti government equity gains in the year

Government investments in Kuwaiti stocks made huge gains after the prices of these stocks rallied during the Corona pandemic, in particularly during the period from the close of March 2020 to the third quarter of 2021.

The earnings made by the Kuwaiti government through these investments were 1.3 billion dinars (4.32 billion dollars), an increase of 32%.

The gains were supported by an increase in the market value of the shares of 35 listed companies, between the first and the main market, to reach 5.52 billion dinars (18.3 billion dollars) according to the closing price of the third. quarter of questyear, compared to 4.16 billion dinars (13.8 billion dollars) according to closing prices at the beginning of March of the year The past that saw the beginning of the Crown crisis, according to the Kuwaiti newspaper Al -Anbaa.

The Kuwaiti government owns shares in Kuwaiti listed companies through 4 investment branches represented in the General Investment Authority, in the General Authority for Insurance, in the General Authority for Endowments and the Public Authority for Minors Affairs.

The four branches own 47 investment centers in the shares of the 35 companies mentioned and approximately 85% of these centers made gains during the Crown period, while 7 investment centers recorded losses.

The General Investment Authority owns the highest value of government investments in shares, which amounted to around 2.5 billion dinars at the end of the third quarter of 2021. Its investments, concentrated in 9 stocks, made gains of around 600 million dinars from the start of the Corona crisis in March 2020 until the end of last September.

Insurance that invests in around 28 stocks ranked second by market value of investments, which amounted to 1.75 billion dinars at the end of last September, with earnings of 390 million dinars in the entire period of the pandemic, compared to the market value of its investments in early March 2020, which amounted to 1.36 billion dinars.

The General Authority for Minors was ranked third by market value with only 3 investments, amounting to 748 million dinars at the end of last September, with earnings reaching 207 million dinars during the pandemic, followed by the General Secretariat of endowments with earnings of 146 million dinars in the same period, after it increased The market value of the company’s only two investments reached 517 million dinars by the end of the third quarter of quest’year.

Most of the Kuwaiti government’s earnings were concentrated in the year in course, as the third quarter had a significant impact, as life gradually returned to normal and the airport, travel movement and many business activities were reopened.

During that period, the government made earnings of 1.24 billion dinars, which represents about 94% of the total earnings made by the government since the start of the pandemic, as the market value of government stock ownership at the end of last year. September reached 5.52 billion dinars, compared to 4.28 billion dinars at the end of September in the year 2020.

The biggest gains

The largest gains made by the government were in the Kuwait Finance House, where the General Investment Authority achieved an increase in the market value of its investments in the bank by 429 million dinars during the Crown period, as did the Public Authority. for Minors Affairs with earnings of 205 million dinars, then the General Secretariat of Endowments with 143 million dinars, And finally, the General Insurance Authority of approximately 111.5 million dinars, bringing the government’s total earnings from investing in “KFH” shares of approximately 888 million dinars since the start of the Corona pandemic.

In second place are the earnings of the General Insurance Body in “Agility”, in when the market value of the institution increased by 151.4 million dinars to reach 408.6 million dinars at the end of last September. And in third place came government investment in “Zain” through the General Investment Authority, which increased its market investment value by 97.5 million dinars, followed by fourth place, insurance investments in the National Bank of Kuwait, which increased its market value by 70 million dinars over the same period.

Fifth, the earnings from government investments in the Kuwait Investment Company amounted to 55 million dinars, followed by earnings of 12.7 million dinars as a result of the increase in the value of its investments. in Warba Bank, while the government’s earnings in the rest of the shares came to less than 10 million dinars.

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