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Image used for illustrative purpose. Construction workers are seen on the site of a newly constructed bridge that is nearing completion at the Jahra roundabout in Kuwait City September 1, 2011. STR New, Reuters
Kuwait has allocated nearly $6 billion to infrastructure and services projects in its 2025-2026 budget which started on 1 April, press reports said on Monday.
Projects to be covered by these funds include rail, roads, water, electricity and the Grand Mubarak Port, the Arabic language daily Alqabas said.
It quoted a government report as saying the budget includes capital spending of nearly 1.7 billion Kuwaiti dinars ($5.7 billion) and more than 90 projects.
“The government has set a number of goals to be achieved through such projects in the current budget...they include increasing growth rates, expanding the private sector’s role in the economy and boosting non-oil revenues,” the paper said.
The report showed infrastructure projects received the lion’s share of capital spending in the 2024-20025 budget, with allocations of KWD428 million ($1.4 billion).
Kuwait’s 2025-2026 budget forecasts a deficit of about KWD 6.3 billion ($20.43 billion) and total revenues of KWD 18.23 billion ($60.2 billion).
(Writing by Nadim Kawach; Editing by Anoop Menon)
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