Kuwait’s Net Assets Increase to $296 Billion, Lawmaker Says

Kuwait’s government assets, managed by the country’s sovereign wealth fund, rose to 81.2 billion dinars ($296 billion) in the fiscal year that ended March 31, from 75.8 billion dinars in the previous year, lawmaker Waleed al-Tabtabai said today.

Al-Tabtabai was speaking to reporters after a closed meeting of parliament to discuss the financial position of the country. Bader Al-Saad, managing director of the Kuwait Investment Authority, attended the meeting.

To contact the reporters on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net; Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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