As one of the first Gulf states to undertake large-scale infrastructure development, the early exploitation of the county’s massive oil fields funded the construction of the region’s most comprehensive road network, bustling ports, and a robust power and water network during the 1970s and 1980s.Even before the Iraqi invasion of 1990-91, this initial...
Based on Ministry of Finance reports, Kuwait’s 2010/11 primary budget surplus registered approximately KD5.3bn ($19bn), capping off a decade of substantial surpluses. With oil prices trending towards record highs, the 2011/12 budget is also expected to remain firmly in the black, with the surplus estimated at between KD6bn ($21.6bn) and KD12bn ($43....
Since launching in 1992, the Kuwait Offset Programme (KOP) has played a key role in stimulating the growth of local industries and attracting foreign investment, particularly in the areas of defence and education. Under the National Development Plan (NDP), the KOP is expected to grow even further, as policymakers encourage new offset projects in the...
Since gaining independence in 1961, Kuwait has been of the most economically productive and politically liberal nations in the Gulf Cooperation Council (GCC) and the wider Arab world. With strong public finances, a young and well-educated population, and vast oil deposits, the country also has a bright future in the global economy, where it...
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