PM: Kuwait's financial situation excellent, economy needs changes

KUWAIT, June 3 (KUNA) -- His Highness the Prime Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, on Wednesday, affirmed that Kuwait's financial situation is excellent, but the economy needs a major change in its structure.
During his meeting with the local newspapers' chief editors, Sheikh Sabah Al-Khaled said: "we cannot rely on one depleted resource, which is oil, because this is difficult, and we must diversify the sources of income in the country." "The repercussions of the coronavirus caused a huge collapse in oil prices from USD 65 to USD 11, and Kuwait was investing all of its money and portfolios in world markets, but we had fenders that absorbed as a result of planning to cope with any crisis," he added. (Pickup previous) jy.fn.aa