Breaking News: Kuwait's Financial Crisis Revealed - China Steps In for Billion-Dollar Port Project!
Kuwait financial update today
Minister of Finance: Without implementing financial reforms, we will resort to reserves to cover the fiscal deficit.
Minister of Finance, Dr. Anwar Al-Mudhaf, revealed that the People's Republic of China has designated a Chinese company to execute the Mubarak Al-Kabeer Port, noting that correspondence is underway between them and the Kuwaiti government to commence the completion of the major developmental port soon.
Al-Mudhaf also highlighted that consultations extend to several other developmental projects, such as the Shagaya Renewable Energy Project.
The Minister of Finance and Minister of State for Economic Affairs and Investment affirmed that the total cumulative fiscal deficit in Kuwait's state budget over the past decade reached 33 billion dinars, expecting the pace of fiscal deficits in the general budget to continue over the next four years, reaching 26 billion dinars.
0 Comments