In a report issued by Credit Suisse Bank under the title ‘Global Wealth Report’, Qatar occupies the first place in the Arab world, with a per capita share of about 183.1 thousand dollars, making it the highest among the wealth of individuals in the Arab countries.
The report stated that Kuwait came in second place, with an average per capita wealth of 171.3 thousand dollars, and the UAE third with an average of 122.8 thousand dollars per person, followed by Bahrain in fourth place with a value of 98,000 dollars per person, Saudi Arabia fifth with an average value of 84.4 per person’ Oman sixth, Jordan seventh, Egypt eighth, Tunisia ninth, and Iraq tenth, reports a local Arabic daily.
On the same level, MoneyInk said that Kuwait is one of the richest countries in the Middle East because of its abundant supplies of crude oil, and the country’s oil reserves have been strategically used to secure an advanced position on the list of the richest countries in the world, and although Kuwait is a small country geographically, it enjoys an open economy backed by oil reserves of about 102 billion barrels, which represents 6% of the total global reserves. Oil income contributes to nearly half of the country’s GDP and 90% of government income.
The website said that Kuwait plans to increase oil production to 4 million barrels per day in order to increase the country’s wealth.
The source pointed out that Kuwait is trying to protect itself from the uncertainties facing the oil industry by transferring at least 10% of the country’s annual revenues to the Future Generations Reserve Fund, while recently resorting to transferring the percentage in the event the budget achieves a surplus.
The source stated that the country is facing difficulty in diversifying its economy as a result of the delay in awarding private sector contracts and the political climate in the country.