Khaberni - The spending on development projects in the State of Kuwait during the first nine months of the fiscal year 2025–2026 amounted to about 601.5 million Kuwaiti dinars ($1.9 billion), recording an unprecedented level.
Data issued by the General Secretariat for Planning showed that the expenditure during the aforementioned period exceeded the total expenses of the fiscal years 2023–2024 and 2024–2025, according to what the newspaper "Al-Qabas" reported on Saturday.
The expenses for 2024–2025 were about 468 million dinars ($1.5 billion), while the expenses for the year 2023–2024 were about 450 million dinars ($1.4 billion).
This increase in spending reflects the effectiveness of recent government decisions that have repositioned development projects at the forefront of priorities, in conjunction with accelerating the procedures for offering and execution after years of stumbling due to administrative, technical, and financial challenges that had previously hindered the progress of many vital projects.
In this context, last week witnessed the announcement of the actual implementation phase of Mubarak Al-Kabeer Port, one of the country's most prominent strategic projects.
This came following the signing of the engineering, procurement, and construction contract with the China Communications Construction Company, a step that reflects the government's serious direction towards activating major postponed projects.
The indicators related to developmental spending point to a clear governmental direction towards enhancing the role of capital expenditure as a key driver of economic growth, by expanding the private sector's participation as a partner in development, which contributes to diversifying income sources and reducing reliance on oil revenues.
Kuwaiti government data also indicates that about 31 projects listed in the fiscal year plan 2025–2026 have exceeded a 50% completion rate, a sign of breaking the stagnation that accompanied several projects for years, and entering the actual execution phase after long administrative and regulatory hurdles.
