Kuwait Government Announces $75 Billion Economic Diversification Plan, Targeting 2035 Vision Milestone
KUWAIT CITY, KUWAIT - In a formal address to the nation, the Kuwaiti Minister of Finance, Dr. Anwar Al-Mudhaf, today unveiled a comprehensive $75 billion economic diversification plan. The announcement, made during a live televised press conference at the Bayan Palace, details a strategic roadmap aimed at reducing the nation's long-standing dependency on oil revenues by the year 2035. According to the Minister, the "New Kuwait 2035 Blueprint" will allocate funds over a five-year period, primarily directed towards infrastructure development, renewable energy projects, and the expansion of the private sector in logistics and financial services. The initiative comes as the nation anticipates a 15% increase in non-oil GDP growth over the next decade. The official statement from the Ministry of Finance emphasized that this is the largest single economic commitment in Kuwait's history, with implementation set to begin in the first quarter of the next fiscal year.