Kuwait City: Kuwait’s state budget for the 2025/26 fiscal year underscores the government’s ambition to achieve financial “balance” through the implementation of economic reforms, as Finance Minister Nora Al-Fassam announced on Sunday. The fiscal strategy prioritizes investment in infrastructure and development projects spanning various sectors, including education, healthcare, tourism, and culture.
According to Kuwait News Agency, the finance minister detailed the planned expenditure on approximately 90 key projects, emphasizing the government’s commitment to fostering economic stability. A potential increase in state employment is anticipated, with the budget expected to create 15,853 jobs. Additionally, the budget aligns with a national initiative to advance digital transformation, supported by a public debt law aimed at enhancing state capital expenditure.
The public debt law will facilitate government borrowing to finance significant development projects in collaboration with the private sector. Revenue projections for the fiscal year are estimated to reach KD 18.23 billion (USD 59.15 billion), while expenditures are set at KD 24.5 billion (USD 79.4 billion), resulting in a projected deficit of KD 6.3 billion (USD 20.4 billion). Among the key projects highlighted are housing developments, a new airport terminal, and the construction of a new port, underscoring Kuwait’s commitment to infrastructural growth.