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Fitch cuts outlook on Kuwait’s debt rating to ‘negative’ Reuters/Kuwairt City Filed on February 3, 2021 A Kuwaiti vendor sells desert truffles at a market in the capital Kuwait City on Wednesday. The desert truffle, an underground fungus is unique to arid environments. Unlike its European counterpart, the abundance of the desert truffle makes it the main component of a dish rather than a seasoning. AFP The agency, which affirmed Kuwait’s long-term rating at AA , said liquid assets in the General Reserve Fund (GRF) faced being depleted in the absence of parliamentary authorisation for the government to borrow Rating agency Fitch on Wednesday downgraded its outlook on Kuwait’s sovereign debt rating to “negative” from “stable”, warning of near-term liquidity risks associated with the state treasury fund. ....
(Bloomberg) Kuwait forecast its eighth consecutive budget deficit for the year starting April 1, unveiling a fiscal plan that sees a near-7% rise in spending as political bickering delays reforms and stymies borrowing.
The shortfall is projected at 12.1 billion dinars ($40 billion), 13. ....
Messenger KUWAIT CITY, Jan 24: The Budgets and Final Accounts Committee in the National Assembly on Sunday met with representatives of the Foreign Affairs Ministry. However, Committee Rapporteur MP Badr Al-Dahoum disclosed the meeting was inconclusive because the officials who represented the ministry are not high ranking as needed. He pointed out the committee expected interim Minister of Foreign Affairs Ahmed Nasser Al-Muhammad or Deputy Minister Khalid Al-Jarallah to represent the ministry, but they did not attend the meeting. He said the committee will not hold meetings under the interim government without the acting minister or undersecretary. In another development, MP Osama Al-Shaheen criticized the call of some parties to allow liquor for personal consumption under the pretext that the liquor ban increased the number of drug addicts. He stressed that liquor is strictly prohibited as per the Islamic Sharia and Kuwaiti laws. ....