Tuesday , July 27 2021

Kuwait plans $ 12.5 billion for development projects

Dubai (US) – Kuwait has allocated 3.8 billion dinars ($ 12.5 billion) to meet 156 development projects listed in the current financial year 2019/2018, said Dr. Khalid Mehdi, Secretary General of the Supreme Council planning and development of Kuwait.

Mehdi said 19 new development projects were included in the development plan for the financial year 2019-2018, with a total of 156 projects included in the plan, 137 of which are ongoing development plans and 19 new projects.

At a news conference on Wednesday evening, the Mahdi made the announcement of the results of the half-yearly tracking report for the current 2018/2019 development plan, according to the Kuwaiti news agency (KUNA).

He pointed out that the results of the report, compared to the number of projects and the cost of the annual development plan, show a decrease in the number of projects compared to the last two years, while project costs are increasing.

According to the report, the number of projects has decreased from 279 projects in the 2016/2017 plan, to 149 projects in the plan for the last fiscal year 2017/2018, and then to 137 projects in the plan for the current year 2018/2019.

According to the report, the total funds in the Annual Development Plan 2016/2017 amounted to about 3 billion dinars (about 9.9 billion dollars), while 2.9 billion dinars (about $ 9.5 billion) in the plan last fiscal year, then rose to 3.8 billion dinars (About $ 12.5 billion) in the current plan for the financial year.

The report states that total expenditure in the fiscal year 2016/2017 amounted to about 673 million dinars, fell to 515 million dinars in the last financial year and then jumped to 1.8 billion dinars in the current fiscal year.

As for the 2018/2019 executive status, the Mehdi said that the number of projects in the implementation phase reached 79 projects and the number of projects in the preparatory phase reached 42 projects, in addition to 16 projects that have not yet begun.

He pointed out that the number of challenges faced by projects was 538, with 182 administrative challenges, 103 financial challenges, 159 technical challenges, 78 challenges in the hands of supervisors, and 16 legislative challenges, revealing solution for 66% Implementation of the project.

He pointed out that the current development plan includes 21 strategic projects, including 6 projects targeting different sustainable development projects and underdeveloped infrastructure, 4 health, environment and sustainable lifestyle projects, and one project to create innovative human capital . 11.6% compared to last year.

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