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Minister Dr. Subaih Al-Mukhaizeem confirmed that Kuwait’s property proceed to exceed its liabilities, reflecting the energy of the nationwide economic system and boosting investor confidence and highlighted constructive ends in the final reserve and the longer term generations reserve in comparison with the identical interval in 2024.
The Council of Ministers reaffirmed the energy, resilience, and solvency of the Kuwaiti economic system, noting its position in attracting international funding. The council emphasised the success of Kuwait’s coverage of financial openness, its efforts to place the nation as a monetary and business hub, and its dedication to offering sustainable job alternatives for future generations, Al Jarida newspaper reported.
The assertion got here throughout a gathering at Bayan Palace chaired by Prime Minister His Highness Sheikh Ahmed Al-Abdullah Al-Sabah. On the conclusion of the assembly, Deputy Prime Minister and Minister of State for Cupboard Affairs Sherida Abdullah Al-Muasherji conveyed the council’s congratulations to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to Crown Prince and Prime Minister Prince Mohammed bin Salman, on the ninety fifth anniversary of Saudi Arabia’s Nationwide Day.
Al-Muasherji prolonged needs for continued progress and prosperity within the Kingdom underneath its management, noting Saudi Arabia’s constant help for Arab and Islamic nations and its fraternal ties with Kuwait. He additionally praised the Kingdom’s achievements in improvement and modernization throughout all sectors through the reign of the Custodian of the Two Holy Mosques.
Individually, Minister of Protection Sheikh Abdullah Al-Ali Al-Sabah briefed the Cupboard on a message from the President of the Worldwide Civil Aviation Group (ICAO), praising Kuwait’s Normal Authority of Civil Aviation for establishing an efficient system to observe aviation safety and implementing ICAO requirements by the Common Safety Audit Program.
The Cupboard reviewed a visible presentation by Minister of Electrical energy, Water and Renewable Vitality, Minister of Finance, and Performing Minister of State for Financial Affairs and Funding, Dr. Subaih Al-Mukhaizeem, within the presence of officers from the Ministry of Finance and the Public Funding Authority, on the state’s monetary standing as of March 31, 2025, in accordance with Article 150 of the Structure.
Al-Mukhaizeem confirmed that Kuwait’s property proceed to exceed its liabilities, reflecting the energy of the nationwide economic system and boosting investor confidence. He highlighted constructive ends in the final reserve and the longer term generations reserve in comparison with the identical interval in 2024.
The Council of Ministers affirmed that these indicators display the resilience and solvency of Kuwait’s economic system, supporting international funding and the nation’s aim of changing into a monetary and business hub, whereas offering sustainable job alternatives for future generations.
The Cupboard additionally reviewed key options of the Fiscal Stability Program and ongoing monetary reforms geared toward enhancing stability and diversifying earnings sources.
Al-Mukhaizeem famous that non-oil revenues are anticipated to develop considerably in 2025/2026 by reforms together with re-pricing authorities companies and enhancing public finance administration. He emphasised efforts to spice up non-oil GDP, appeal to investments, and enhance non-public sector contributions, paving the best way for a extra sustainable and aggressive economic system.
Al-Mukhaizeem briefed the Cupboard on his assembly with IMF MENA Mission Head Francesco Baroudi, who highlighted indicators of financial restoration, falling inflation, and a secure banking system. He additionally reported on discussions with a high-level Chinese language delegation on implementing agreements with the State Vitality Funding Company to advance Kuwait’s renewable vitality tasks, together with Shagaya and Abdaliya.
The Cupboard permitted a draft decree-law to repeal Legislation No. 115 of 2014, which established the Public Authority for Roads and Land Transport, and submitted it to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.
It additionally permitted transferring duty for railway tasks to the Ministry of Public Works as an alternative of the Normal Authority for Roads and Land Transport, in keeping with Article 3 of Decree 116 of 1992, to make sure the well timed completion of rail and fast transit tasks.
The Council of Ministers additionally permitted the minutes of the Supreme Committee for the Investigation of Kuwaiti Nationality, protecting instances of loss or withdrawal of nationality underneath Decree Legislation No. 15 of 1959 and its amendments.
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