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INFRASTRUCTURE BOOST

Kuwait to spend $18bn on development projects

Kuwait, April 8, 2013

Kuwait plans to spend KD4.5-5 billion ($15.8-17.5 billion) on development projects in the 2013/14 fiscal year which began this month, Finance Minister Mustapha al-Shamali said on Monday.

He also told reporters on the sidelines of a financial conference in Kuwait that the Opec member's economy should grow by 4.5-5 per cent this year.

That is more optimistic than a Reuters poll of analysts, which forecast in January Kuwait's real GDP growth of three per cent this year after an estimated 5.1 per cent in 2012.-Reuters




Tags: Construction | Kuwait | project |

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