VOL. XLI

No. 16

20-April-1998

KUWAIT

New Law Sees End To Overseas Investment By RFFG

The Kuwaiti Reserve Fund for Future Generations (RFFG) will stop investing its surplusfunds overseas in years when the state runs a fiscal deficit, if the National Assemblyaccepts the terms of a new law proposed by the prime minister. The amendment to Law 106 of1976 would curtail the government's obligation to divert 10% of all its revenues to theRFFG regardless of the fiscal position of the government. Under...