Thursday, March 26, 2009

Economy: Kuwait to launch $5bn stimulus package

Trade Arabia reports Kuwait's cabinet will approve today (March 26) a $5 billion economic stimulus bill that has been delayed by tensions between the government and parliament, reports said.

Last week, the ruler of the country dissolved parliament to end a political crisis that has delayed several economic bills.

One of the world's biggest oil exporters, Kuwait has been hit badly by the financial crisis and is the only Gulf country that has had to step in to save a big bank.

The cabinet would approve the stimulus at an extraordinary meeting, the independent Al-Watan and Al-Jarida newspapers said in unsourced reports.
Published by Mike Hitchen, Mike Hitchen Consulting
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