Kuwait’s economy strong, stable, and attractive for investment

• Minister Dr. Subaih Al-Mukhaizeem confirmed that Kuwait’s assets continue to exceed its liabilities, reflecting the strength of the national economy and boosting investor confidence and highlighted positive results in the general reserve and the future generations reserve compared to the same period in 2024.

The Council of Ministers reaffirmed the strength, resilience, and solvency of the Kuwaiti economy, noting its role in attracting foreign investment. The council emphasized the success of Kuwait’s policy of economic openness, its efforts to position the country as a financial and commercial hub, and its commitment to providing sustainable job opportunities for future generations, Al Jarida newspaper reported.

The statement came during a meeting at Bayan Palace chaired by Prime Minister His Highness Sheikh Ahmed Al-Abdullah Al-Sabah. At the conclusion of the meeting, Deputy Prime Minister and Minister of State for Cabinet 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 95th anniversary of Saudi Arabia’s National Day.

Al-Muasherji extended wishes for continued progress and prosperity in the Kingdom under its leadership, noting Saudi Arabia’s consistent support for Arab and Islamic nations and its fraternal ties with Kuwait. He also praised the Kingdom’s achievements in development and modernization across all sectors during the reign of the Custodian of the Two Holy Mosques.

Separately, Minister of Defense Sheikh Abdullah Al-Ali Al-Sabah briefed the Cabinet on a message from the President of the International Civil Aviation Organization (ICAO), praising Kuwait’s General Authority of Civil Aviation for establishing an effective system to monitor aviation security and implementing ICAO standards through the Universal Security Audit Program.

The Cabinet reviewed a visual presentation by Minister of Electricity, Water and Renewable Energy, Minister of Finance, and Acting Minister of State for Economic Affairs and Investment, Dr. Subaih Al-Mukhaizeem, in the presence of officials from the Ministry of Finance and the Public Investment Authority, on the state’s financial status as of March 31, 2025, in accordance with Article 150 of the Constitution.

Al-Mukhaizeem confirmed that Kuwait’s assets continue to exceed its liabilities, reflecting the strength of the national economy and boosting investor confidence. He highlighted positive results in the general reserve and the future generations reserve compared to the same period in 2024.

The Council of Ministers affirmed that these indicators demonstrate the resilience and solvency of Kuwait’s economy, supporting foreign investment and the country’s goal of becoming a financial and commercial hub, while providing sustainable job opportunities for future generations.

The Cabinet also reviewed key features of the Fiscal Balance Program and ongoing financial reforms aimed at enhancing stability and diversifying income sources.

Al-Mukhaizeem noted that non-oil revenues are expected to grow significantly in 2025/2026 through reforms including re-pricing government services and improving public finance management. He emphasized efforts to boost non-oil GDP, attract investments, and increase private sector contributions, paving the way for a more sustainable and competitive economy.

Al-Mukhaizeem briefed the Cabinet on his meeting with IMF MENA Mission Head Francesco Baroudi, who highlighted signs of economic recovery, falling inflation, and a stable banking system. He also reported on discussions with a high-level Chinese delegation on implementing agreements with the State Energy Investment Corporation to advance Kuwait’s renewable energy projects, including Shagaya and Abdaliya.

The Cabinet approved a draft decree-law to repeal Law 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 also approved transferring responsibility for railway projects to the Ministry of Public Works instead of the General Authority for Roads and Land Transport, in line with Article 3 of Decree 116 of 1992, to ensure the timely completion of rail and rapid transit projects.

The Council of Ministers also approved the minutes of the Supreme Committee for the Investigation of Kuwaiti Nationality, covering cases of loss or withdrawal of nationality under Decree Law No. 15 of 1959 and its amendments.

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