In 2019, Kuwait’s public debt knocks over $6.55 Billion

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In 2019, Kuwait’s public debt knocks over $6.55 Billion

In 2019, Kuwait’s public debt knocks over $6.55 Billion

As per data released by the Central Bank of Kuwait (CBK), Kuwait’s public debt instruments dropped by 41.5 percent year-on-year at the end of December 2019.

Last December, debt instruments from the GCC world are coming to KWD 2,072 billion ($6,822 billion), as opposed to KWD 3,542 billion ($11,662 billion) a year ago.

Month-on-month, Kuwaiti’s public debt decreased from KWD 2,172 billion in November by 4.61 percent cent in December.

It is important to note that in December Kuwait’s foreign currency reserves grew to KWD 12.09 billion ($39.9 billion) by 7.2 percent YoY.