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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Kuwait should make use of budget surpluses properly

Posted on 06 September 2010

From Gulfnews.com: The spare of fiscal year 2009-10 brings total accumulated surpluses over the past 11 years to $145 billion. The plan includes selling off shares in institutions the government purchased through the Kuwait Investment Authority following the collapse of the unofficial stock market in 1982 and Iraqi invasion in 1990.
The privatisation drive should help broaden sources of revenue, subsequently reducing reliance on oil, which contributed 88 per cent of total treasury income in fiscal year 2009-10……………………………………….Full Article: Source


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