The Kuwaiti Ministry of Finance says the country will need a 66 billion loan over 30 years for infrastructure and construction projects.
According to details, Kuwaiti Finance Minister Barack Al-Shaitan has said that the country will urgently need a loan of 66 66 billion over the next 30 years.
Talking to reporters after meeting the Finance and Economic Committee in the Kuwaiti Parliament yesterday, the Kuwaiti Finance Minister said that the national debt would not exceed 60% of the gross national product.
He said the loan would be spent on infrastructure and construction projects.
The Kuwaiti Finance Minister said that the Parliamentary Finance Committee has suggested that the limit and duration of the national debt be reduced. The Kuwaiti government will review the proposal and respond soon. Cooperation is needed.
Earlier, the Kuwaiti finance minister had warned lawmakers that the state treasury only had the capacity to pay salaries to employees until October.
He has also said that the national budget deficit will reach 14 billion dinars due to the fall in oil prices and the Krona crisis, due to which Kuwait is going through the worst economic crisis.
