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FINANCIAL NEWS
Fitch estimates Kuwait’s foreign assets to hit over USD320b
04 Aug 2012
(MENAFN) Fitch Rating expected Kuwait’s foreign assets to hit more than USD320 billion, equivalent to nearly double the Gulf state’s GDP, Arabian Business reported.
The new report attributed the assets to the Gulf state’s double-digit budget surpluses registered every year since 1999 thanks to its huge oil revenues.
Kuwait’s exposure to the oil sector, however, was a vulnerability, given oil price volatility and regional geopolitical threats. Oil sector represent half of Kuwait’s GDP and contribute 83 percent of government revenue.
Fitch has affirmed Kuwait’s long-term foreign and local currency issuer default ratings at ‘AA’, with stable outlooks on both.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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