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Kuwait spent nearly 124 million Kuwaiti dinars ($409 million) on development projects in the first seven months of the current fiscal year, according to official data.
The actual spending is way below the project allocations of around KWD1.15 billion ($3.8 billion) during the 2024-2025 budget year, which started on 1 April 2024.
A Finance Ministry report, published in Kuwait’s Alqabas newspaper on Thursday showed 133 development projects were included in the current budget.
It showed eight projects have been completed while 65 are being executed and 43 will be launched soon. The report said 17 projects have remained frozen for some reasons.
“Ministries and other public offices have been asked by the Finance Ministry to give priority to projects that will contribute to tacking structural imbalances in the country’s economy,” Alqabas said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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