Kuwait to invest $15.75b in 2017-18 development plan

Kuwait: 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 per cent, oil sector was contributing 33.8 per cent while the private sector was contributing 16.9 per cent.