Cash-Strapped Kuwait Struggles To Pay Govt Salaries

by Rahul Gautam Aug 20, 2020 • 07:09 PM Views 708

Kuwait, one of the richest Gulf countries, is now facing an economic crisis, as it has not enough money to pay its employees beyond October. The Finance Minister said that the government is extracting 1.7 billion dinars from its reserve fund every month. If the situation remains the same and oil prices do not improve or the Kuwait government does not borrow from local and international markets, then the country will soon run out of cash.