Government spending in Kuwait on development projects significantly decline in 13 yrs – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 13-Mar-2023
- Source: Arab Times Kuwait
- Sector:Real Estate
- Country:Kuwait
Government spending in Kuwait on development projects significantly decline in 13 yrs – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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Expenditure rate only 26%
KUWAIT CITY, March 12: Official figures issued by government agencies revealed a significant decline in government spending on development projects included in the budget of various institutions, as the total expenditure on these projects, despite the passage of more than 11 months since the beginning of the current fiscal 2022-2023, amounted to about 338 million dinars only out of a total of 1.3 billion dinars that had been allocated to these projects, with an expenditure rate of only 26%, which is the lowest in 13 years. There are 128 development projects planned for the current fiscal year, most of which are in the implementation phase (59 projects), while there are 53 projects still in the preparation phase, and 6 projects that have not yet started, while the total number of projects in the delivery phase is only 10.
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