AFP: Kuwait foreign assets soar to $277 bln: report

The foreign assets of OPEC member Kuwait swelled to 277 billion dollars at the end of the fiscal year to March 31, up from 238 billion dollars a year earlier, the Al-Jarida newspaper said Friday.

The assets are held in two state-owned funds, the Reserve Fund for Future Generations (RFFG) whose assets grew to 220 billion dollars on March 31 up on 196 billion dollars the previous year.

The second fund is the General State Reserve with 57 billion dollars at the end of the last fiscal year up from 42 billion dollars, Al-Jarida said.