Kuwait has approved capital expenditure of approximately KD 3 billion (USD 10 billion) for its 2026-2027 fiscal year, more than a third higher than the previous year, covering 117 new projects and 551 ongoing developments.
Major allocations include the new Kuwait International Airport terminal, Mina Mubarak Al-Kabeer port and the Kabd wastewater plant. The increased spending comes despite repeated Iranian missile and drone strikes on Kuwaiti facilities since the onset of the regional conflict.
Forecast revenues for the fiscal year stand at KD 16.3 billion against projected expenditure of KD 26.1 billion, leaving a projected deficit of KD 9.8 billion. Kuwait has budgeted on an assumed oil price of USD 68 per barrel, well below the USD 90 breakeven price required to balance revenues and expenditure.
The finance minister affirmed that Kuwait's liquidity position remains stable and that all deposits and salaries are fully secured.
Gulf Economist Staff Writer