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Kuwait: $10 Bn for 2019-2020 Development Plan

Kuwait: $10 Bn for 2019-2020 Development Plan

Monday, 16 December, 2019 - 13:00

Financial allocations for Kuwait's development plan of 2019-2020 amounted to $10.9 billion compared to $12.5 billion in the 2018-2019 scheme, announced Sec-Gen of the Supreme Council for Planning and Development, Khaled Mahdi.

Speaking at a press conference on Sunday, Mahdi said the number of projects included in the plan totaled 135, including 51 with 38 percent in the preparatory stage and 75 projects, a 56 percent, in the executive phase.

The Sec-Gen explained that the overall expenditure on the envisioned projects in the first half of 2019-2020 amounted to $2 billion compared to $6.2 billion during the same period of the 2018-2019 plan.

Proportion of projects in executive phase in the 2019-2020 plan amounted to 56 percent compared to 59 percent in the 2018-2019 scheme and 53 percent in 2017-2018, reported KUNA.

On challenges facing the execution, Mahdi said there were 212 administrative hurdles, 104 complications of financial nature, 161 technical obstacles, 85 issues with supervisory authorities, and 19 for legislative reasons.

Up to 80 percent of these obstacles have been successfully tackled, he elaborated.

There are 22 strategic enterprises in the 2019-2020 plan with annual financial allocations estimated at $8.9 billion, 20.2 percent of which had been spent at the end of H1.

The Chairman went on to say that there were four strategic projects concerning high quality healthcare of spending estimated at 9.68 percent, one on human creativity with 33.97 percent spending, and five on sustainable living environment with 8.05 percent.

The strategic projects also included six on modern infrastructure with 20.7 percent and six on sustainable and diverse economy with 22.73 percent of expenditure.

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