Kuwait Govt. will spend KD 3.3bn for ’19-’20 development plan for 135 projects.

Financial allocations for Kuwait’s development plan (2019-2020) amounted to KD 3.3 billion (approx $10.9 billion) against KD 3.8 billion (some $12.5 billion) in the 2018-2019 scheme. Speaking at a news conference, Khaled Mahdi, Secretary General of the Supreme Council for Planning and Development, said number of projects included in the scheme totaled 135 including 51 with 38 percent in preparatory stage and 75 ones, 56 percent of which in executive phase. The 2019-2020 plan envisages five planned ventures, execution of which remained in initial stages.

Overall expenditure on the envisioned projects in the first half of the 2019-2020 period amounted to KD 620 million (approx. $2 billion) against KD 1.8 billion (around $6.2 billion) during the same period of the 2018-2019 plan. Proportion of projects in executive phase in the 2019-2020 plan amounted to 56 percent compared to 59 percent in the 2018-2019 scheme and 53 percent in the 2017-2018 one.

On challenges facing the execution, Mahdi said there were 212 administrative hurdles, 104 snags of financial nature, 161 technical obstacles, 85 issues with supervisory authorities and 19 ones of legal reasons.

Up to 80 percent of these snags have been successfully tackled, he elaborated. Number of strategic enterprises in the 2019-2020 plan reached 22 with annual financial allocations estimated at KD 2.7 billion (approx 8.9 billion), 20.2 percent of which had been spent in the end of the first half.

The strategic projects included four ones concerning high quality healthcare of spending estimated at 9.68 percent, one on human creativity, 33.97 percent spending and five on sustainable living environment, 8.05 percent. They also included six ones on modern infrastructure, 20.7 percent, six on sustainable and diverse economy with 22.73 percent expenditure.

Via: Arab Times

No.of Reads (269)

WCK

A light Year Ahead News Source.