Kuwait signals ‘redesign’ of state economy

When in the past Kuwait has talked about multibillion-dollar development plans and ambitious economic reform packages, cynicism has usually been the order of the day.

Yet in recent months a tentative thaw in relations between the country’s combative parliament and government has enabled the passing of several high-profile bills. In February, the Kuwaiti parliament approved a $104bn four-year development plan, and in May a more contentious privatisation law – first mooted 18 years ago.

Implementation of the privatisation law is likely to be a crucial test of the improved political environment in the country, observers say.