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Mon 1 Nov 2010 05:01 PM

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Kuwait says it aims for $14bn non-oil revenue in 2014

Country sees non-oil revenue at around KD4bn in the last year of a four-year development plan

Kuwait says it aims for $14bn non-oil revenue in 2014
Sheikh Ahmad Al Fahad said Kuwait hopes to gain up to $14bn in non-oil revenue in 2014. (Getty Images)

Kuwait hopes to earn up to KD4bn ($14bn) in non-oil revenue in 2014, the

final year of a four-year development plan, the deputy prime

minister for economic affairs said on Monday.

"It will be almost 3.8 to 4 billion (dinars) in the fourth

year of the plan," Sheikh Ahmad al-Fahad al-Sabah told reporters

on the sidelines of an economic forum.

The Gulf Arab state's parliament approved a KD30bn ($104.3bn) four-year development plan in February aimed at

decreasing its dependence on oil, and boosting private sector

participation in projects.

Kuwait is the world's fourth-largest oil exporter and the

plan includes investment in raising oil and natural gas

production.

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