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Kuwait fiscal reserves hit record $592 bn: report

Kuwaiti Finance Minister Anas al-Saleh has told parliament that financial reserves have hit a record $592 bnKuwait’s financial reserves defied a slump in oil prices to hit a record 179.2 billion dinars ($592 billion) at the end of the 2014-15 financial year, a report said Thursday. Kuwait normally does not reveal the size of its assets most of which are invested abroad, mainly in Europe and the United States. The reserves are held in two state funds, the State Reserve Fund and the Reserve Fund for Future Generations.

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