OPEC producer Kuwait invested only around 30 percent of the total project allocations during fiscal year 2023-2024, according to official data.

Government figures published by the Kuwaiti Al-Qabas Arabic language newspaper on Sunday showed project spending during that year, which ended on 31 March, totaled around 345 million Kuwaiti dinars ($1.13 billion), nearly a third of the planned capital expenditure of about KWD1.1 billion ($3.63 billion).

The budgetary allocations covered 124 projects, including an economic city in North Kuwait and expansion of the international airport.

The report showed seven projects have been completed while 62 are under way and the rest have not been started yet.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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