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Kuwait’s public spending on infrastructure projects declined by more than 10 percent in the 2021-2022 fiscal year, which ended on 31 March according to official data.
The OPEC oil producer spent nearly 490 million Kuwaiti dinars ($1.6 billion) on roads and other infrastructure projects during 2021-2022 compared with 553.4 million dinars ($1.83 billion) during 2020-2021, showed the figures by the Finance Ministry.
The 2021-2022 spending was far below the budget funds allocated for infrastructure of around 702 million dinars ($2.31 billion) during that year, showed the report published by the Kuwaiti Arabic language daily Alqabas on Tuesday.
A breakdown for 2021-2022 showed road projects had the lion’s share of the allocations, receiving nearly 159 million dinars ($524.7 million).
Power projects received 129 million dinars ($131.5 million) while spending on water sewage stood at 88 million dinars ($290.5 million).
(Writing by Nadim Kawach; Editing by Anoop Menon)
