Kuwait Pursues Execution of Major Projects in 2026-2027 Budget

Kuwait is pushing ahead with the execution of airport expansions and other large projects as part of a stimulus package to counter the impact of regional hostilities.

Kuwaiti Finance Minister Yaqoub Al-Rifai outlined a roadmap to stimulate economic activity in the country, enhance fiscal sustainability, and create more sustainable job opportunities for Kuwaiti nationals in the private sector.

He noted that the increased investment spending in the current budget stems from the expansion of strategic projects, most notably the new airport terminal, the Mubarak Al-Kabeer Port, the expansion of the Umm Al-Hayman wastewater treatment plant, the Kabd North wastewater treatment plant, and the expansion of Kuwait International Airport (Terminal 2) and the development of its connecting roads.

These initiatives reflect support for infrastructure development, improved efficiency of public services, and enhanced productivity in vital sectors, he said.

Kuwait’s budget for the 2026-2037 fiscal year, which started on 1 April, forecast revenues at 16.3 billion Kuwaiti dinars ($53.8 billion) and expenditure at KWD 26.1 billion ($86.2 billion), with a projected shortfall of KWD 9.8 billion.

The finance ministry said early this year that the budget is based on a conservative average oil price of $57a barrel, far below the $68 price assumed in the 2025-2026 budget.

Capital spending was projected at around KWD 3.1 billion ($10.3 billion), nearly 12 percent of the total expenditure, it said, adding that it would be mostly allocated to those projects.