Kuwait To Save 25% Of Its State Revenue
Kuwait has decided to raise the mandatory allocation to the Reserve Fund for Future Generations (RFFG) from the current 10% of state revenue to 25%. After making the decision at its weekly meeting on 17 September, the cabinet instructed the finance ministry to make the necessary arrangements to implement the change in fiscal 2012-13 which started on 1 April.
Explaining the rationale behind this decision,...