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Kuwait mulls over acquiring assets in Europe

23 Oct 2011

(MENAFN) Kuwait’s finance minister, Mustapha Al-Shamali, said that due to the Eurozone’s debt crisis that reduced prices, the Kuwaiti government mulled over purchasing some assets in the continent, reported Arab News.

Al-Shamali added that the country would first think about what it would be interested in, moreover, it would study the investment very well and evaluate it before deciding what to buy and in what sector.

He also said that the European debt crisis would have a slight impact on the country, adding that the government would wait for the Europeans and see what they would do with their economy.

It is worth noting that Kuwait’s budget spending has tripled since 2004 to a record USD71 billion planned for the current fiscal year.

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