Kuwait

Far-reaching reforms aimed at strengthening Kuwait’s national health care system are gaining momentum, as the government moves forward with its plans to rationalise public spending in the face of a rising budget deficit.

The Kuwaiti government remains committed to rolling out its ambitious infrastructure development plan despite uncertainty over global oil prices. 

Real estate sales in Kuwait rebounded in February, following a slowdown in recent months, with commercial sales outpacing residential for the first time in eight years. 

Economic reform is under way in Kuwait, after the Ministry of Finance unveiled a new six-point strategy last month aimed at restructuring the economy amid the slump in global oil prices. 

Last month Kuwait announced plans to create a new fund to manage its domestic assets, signalling a key step forward in the country’s push to privatise state-owned companies.

The need for economic diversification was underscored this past year as the Kuwaiti economy came under pressure from lower oil revenues.