Messenger
KUWAIT CITY, Dec 13: Director General of the Public Institution for Social Security (PIFSS) Mishaal Al- Othman says investments valued at about $15 billion were made during the COVID-19 crisis, and some of them have started showing profit indicators, reports Al-Qabas daily.
In a telephonic interview on Kuwait Radio, he explained that the total value of the low-performing assets that were discharged amounted to about 20 billion dollars. They were re-invested in new investments, without affecting the investment plan’s money, as the institution, in light of the returns of these exits, was able to reduce the volume of cash to ten percent now, and is targeting below four percent by the end of the fiscal year.