‘Kuwait safe, stable financially’ – COVID effects shunned – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

SourceArab Times Kuwait
SectorFinancial Markets
CountryKuwait

KUWAIT CITY, May 3: The financial situation of Kuwait is safe and stable – this is what all local and international financial reports have unanimously agreed upon. Kuwait continues to be among the best investment destinations, if not for the negative effects of the COVID-19 pandemic, reports Al-Nahar daily quoting reliable sources. They explained that Kuwait possesses countless assets that enable it to remain steadfast in the face of crises.

Despite the liquidity crisis that the budget suffers from due to legislative intransigence in passing the public debt law, Kuwait has official reserve assets of KD 14.3 billion and foreign investments estimated at $530 billion managed by the Kuwait Investment Authority (KIA), and yields among the best in the world. When reading the financial position of Kuwait in the last 30 years from 1990/1991 to 2019/2020, it can be observed that the state achieved actual revenues of KD 368.9 billion, compared to expenditures amounting to KD 318.18 billion. KD...read more...