Economics
Kuwait’s Budget Crunch May Push It to Tap Fund for Life After Oil
- World’s oldest wealth fund may offer state a loan, investment
- Parliament, critical of spending, is blocking borrowing abroad
A re-opened mall in Kuwait City on July 1.
Photographer: Yasser Al-Zayyat/AFP via Getty Images
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Kuwait, one of the world’s wealthiest countries, is in a budget crunch so severe that it may have to soon begin leaning on a fund intended to prepare it for a future without oil.