Kuwait to invest KWD4.75 billion in 2017-18 development plan

July 31, 2016 4:31 pm

Kuwait plans to invest 4.75 billion dinars ($15.75 billion) in its 2017-2018 development plan, in which 1.59 billion dinars will be borne by the state budget, the secretary general of the Supreme Council for Planning and Development said on Sunday.


Khaled Mahdi told a news conference in Kuwait that the rest of the funds would come from the public sector, including the OPEC member’s energy industry, and from private investors.


Mahdi also said that financing of the current five-year development plan was being shared by both the public and private sectors. He said that the general government sector was providing 49.3 percent, oil sector was contributing 33.8 percent while the private sector was contributing 16.9 percent. ($1 = 0.3015 Kuwaiti dinars)


By Reuters
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