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Kuwaiti gov’t to spend up to USD17.5b on development projects

08 Apr 2013

(MENAFN) Kuwait’s Finance Minister, Mustapha al-Shamali, announced that during the 2013/14 fiscal year, between USD15.8 billion and USD17.5 billion will be spent on the country’s development projects, reported Arabian Business.

The government is making progress in its plan to expand the emirate’s infrastructure, as it had to postpone work on a USD104.96-billion infrastructure building and economic development plan that was revealed in 2010 due to the political unrest that swept the country.

On the other hand, al-Shamali noted that in 2013, Kuwait’s economy is projected to expand by between 4.5 percent and 5 percent.

It is worth noting that during the first 10 months of its fiscal year, Kuwait posted a budget surplus of USD60.18 billion.

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