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Kuwait has approved nearly 1.7 billion Kuwaiti dinars ($5.6 billion) for 124 projects in the draft 2025-2026 budget which it announced on Monday, the Finance Minister has said.
Noura Al-Fassam said the budget included a record number of projects covering various sectors and that most of them belong to ministries.
She was quoted by the official news agency KUNA as saying that the budget included total capital expenditure of nearly KWD1.9 billion ($6.2 billion).
“These projects will largely serve the interests of citizens….they cover a wide variety of sectors including health, power, water, education, sewage and other sectors,” she said, adding that the projects would boost power generation and improve the infrastructure.
The draft 2025-2026 budget, which will start on 1 April, forecasts a deficit of about KWD 6.3 billion ($20.43 bln) and total revenues of KWD 18.23 billion ($60.2 bln). It also sees oil revenues at KWD 15.3 billion , based on an average oil price of $68 per barrel.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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