Kuwait parlaiment backs development plan

03 February 2010

The Kuwaiti government has announced plans to spend 30 billion dinars ($104bn) on development projects over the next four years, Bloomberg has reported. The government plans to earmark about 4.5 billion dinars of the total amount for spending in the next fiscal year, which begins in April, Deputy Prime Minister for Economic Affairs Sheikh Ahmed al-Fahad al-Sabah told parliament. Another 2.5 billion dinars will be contributed by companies, he said. The development plan includes investments to boost oil and gas production and build a railway network, new cities, and a port on Boubyan Island.

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