Kuwait Spends Lowest On Development In Last 10 Years

Since the beginning of the current fiscal year 2020-2021, development projects in the country are facing a crisis. The pandemic has resulted in a scarcity of budget liquidity. The developmental rate at end of 2020- 2021, the current fiscal year is about 37% only. Lowest in the last ten years, Al Qabas reported

The spending on development projects in the current fiscal year amounted to KD 660 million out of 1.7 billion allocated for it. In the fiscal year, 2019-2020 a total of KD 2.1 billion was spent on development projects.

Besides, a correspondent of the Ministry of Finance revealed that its development projects were also affected by the curfew and partial curfew.

In a related development, related sources expected that the development projects will be more severely affected by the economic events taking place in the country during the coming period unless tangible progress is achieved in the draft laws supporting the liquidity of the public treasury.

 

DOURCE :  TIMES KUWAIT

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