The government of Kuwait has been ranked as the highest spending in the world, according to Al Qabas newspaper.
According to a statistical survey conducted by the Kuwaiti Central Bank, government spending in the oil-rich GCC state tops 56.4 per cent, based on the gross domestic product (GDP).
Kuwait tops the GCC countries, followed by Oman (51.5 per cent), Qatar (42.7 per cent), Saudi Arabia (36.2 per cent) and the UAE (30 per cent).
The average Kuwaiti government spending is also higher than the EU rate which stands at 47 per cent, compared with the US (35.2 per cent), Japan (36.8 per cent), Canada (40.8 per cent) and Britain (39.4 per cent).
Analysts say that the high rate of public spending reflects the extent of government intervention in the national economy.
The Kuwaiti government has allocated KD19 billion for public spending – with a large proportion going to public employees’ salaries and other financial transfers.
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