Kuwait is set to spend about KD4.74 billion ($15.6 billion) on infrastructure and other projects in fiscal year 2017-2018 with the private sector contributing 16.9 per cent of the spend, said a report in a local daily.
The projects cover houses, roads, electricity, ports, airports, telecommunications and renewable energy, reported Arabic newspaper Al Anba, quoting Dr Khaled Mahdi, the secretary general of the General Secretariat of the Supreme Council for Planning and Development.
The government will contribute 49.3 per cent of the investments, revealed Dr Mahdi.
Around 33.8 per cent will be spent by the state-owned oil sector, while 16.9 per cent will be spent by the private sector within a public-private partnership (PPP) programme, he said.
“The 2017-2018 Development Plan, which is part of the second Five-Year Plan, includes projects intended to diversify the income sources, develop the tourism sector and increase investment flows,” he added.