| Oil will still account for 93 percent of Kuwait’s revenues during 2015-16, despite the lower price, Industrial Bank of Kuwait chairman Abdulmohsen Al Hunaif reportedly said .Despite analysts including the International Monetary Fund warning for several years that the country’s fiscal position was weak and it needed to diversify, the Kuwaiti government has made little progress.
Instead, its sovereign wealth fund is reportedly considering selling assets. Al Anba newspaper reported in October that the Kuwait Investment Authority (KIA), which is estimated to have more than $500bn of assets, was studying whether to liquidate assets that generate annual returns of below 9 percent, potentially generating $30bn in sales...............................................Full Article: Source
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