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Kuwait's investments in UK will not be affected by Brexit: Official
July 12, 2016, 3:52 pm
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Kuwait Investment Authority's (KIA) diverse and numerous investments in the UK will not be affected by the UK's decision to pull out of the EU, also known as Brexit, Ministry of Finance's Undersecretary Khalifa Hamadah said Tuesday.

Hamadah told the press that other financial matters were touched upon after signing a geoinformatics contract with local and international entities.

He pointed out that the Finance Ministry will constantly reconsider all monetary backing especially those concerning gasoline.

He added that the Ministry has a strategy to deal with the country's budget deficit of the fiscal year 2016/2017; the two-faceted strategy entails getting a KD 2 billion loan from local markets and a KD 3 billion loan from international markets. He concluded by saying that privatization is an economic and financial reform tool that was approved by the Cabinet back in March. 

Source: KUNA

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