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Kuwait introduces public debt law for 97 billion dollar borrowing plan

Kuwait has enacted a public debt law allowing for a borrowing ceiling of KWD 30 billion ($97.4 billion) and the issuance of financial instruments with maturities up to 50 years. This legislation aims to diversify funding sources and reduce reliance on oil revenues, supporting the country's Vision 2035 economic diversification strategy. With a projected budget deficit of KWD 5.6 billion ($18.33 billion) for the 2024-2025 fiscal year, the law is seen as a crucial step toward fiscal sustainability and infrastructure financing.
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