Kuwait issued bonds worth $ 8 billion

Business & Finance

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Kuwait has issued bonds worth US $ 8 billion in competitive price and high turnout three times the demand, reflecting the conviction Baanaatiadtha financial investors and the government plans to reform public finances to ensure the survival of the reserves and control the fiscal deficit budget.

A source close to the talks who requested anonymity told Kuwait News Agency (KUNA) that "version is $ 3.5 billion for a period of 5 years at a price of 75 basis points above the price of US Treasury bonds and $ 4.5 billion at a price of 100 basis points above the US rate bonds for 10 years ".

The aim of step Kuwaiti government to issue bonds to interest in funding needed to cover the budget deficit and to provide large sums of money to finance the expenditure side of the implementation of infrastructure and productive investment projects which represent the main pillar of the development process, especially in light of expectations of continued "the face of state budget deficits in the coming years", according to KUNA .