According to data from the Central Bank of Kuwait, the total external debt of Kuwait decreased by 5.4% during the first half of 2023, amounting to 62.4 billion usd, in contrast to the  66.0 billion usd reported at the end of the first quarter of 2023. Kuwait’s external debt, encompassing both government and private sector obligations, experienced a decline from its recent peak in the second quarter of 2023, as well as in the fourth quarter of 2022, where it stood at 63.7 billion usd and the third quarter at 63.0 billion usd.Comparatively, in the second quarter of 2022, the total debt amounted to 61.1 billion usd. It’s important to note that Kuwait’s external debt comprises the debt held by the private sector, which includes local banks, investment companies, exchange firms, insurance companies, and non-financial private enterprises. Historically, Kuwait’s total external debt was approximately 60.5 billion in 2018, and in 2019, it decreased to 52.1 billion dinars, the lowest in five years.In 2020, it increased to 61.1 billion usd, and in 2021, it reached a record high of 70.5 billion usd. By the end of 2022, it had decreased to 63.7 billion usd. In other news, GCC Secretary General Jassim Al-Budaiwi affirmed the strength of the Gulf economy as one of the top world economies. (ICE KUWAIT)

Fonte notizia: ARAB TIMES