Council of Ministers: Financial reforms will pave the way for building a more sustainable and competitive economy

Kuwait City, Jan 9 (KUNA) -- The Council of Ministers affirmed that the financial reforms currently being implemented will pave the way for building a more sustainable and competitive economy in the medium and long term, noting that these positive indicators reflect the strength, resilience, and soundness of the Kuwaiti economy.

This statement was made during the Council of Ministers’ meeting held today, Tuesday, under the chairmanship of Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah. The Council reviewed a presentation by Minister of State for Economic Affairs and Investment Abdulaziz Al-Marzouq and Finance Minister Dr. Yaqoub Al-Rifai regarding the state’s financial position as of March 31, 2026, as well as a presentation on the first-quarter report concerning the implementation of budgets for ministries and government departments for the fiscal year 2026/2027.

The Council noted that these reforms contribute to attracting foreign investment to the State of Kuwait and confirm the success of the state’s policy aimed at economic openness and supporting the trend toward making Kuwait an attractive financial and commercial hub, while providing sustainable job opportunities for future generations.

It highlighted the Kuwaiti economy’s capacity and the state’s strong financial position to face regional and international challenges, given its assets and financial reserves.

The Council pointed out that the first-quarter report on the implementation of budgets for ministries and government departments for 2026/2027 showed that non-oil revenues are projected to achieve notable growth during the current fiscal year, driven by a series of planned financial reforms.

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