Mubasher: Kuwait’s public debt instruments dropped 41.5% year-on-year at the end of December 2019, according to data released by the Central Bank of Kuwait (CBK).

The GCC country’s debt instruments went down to KWD 2.072 billion ($6.822 billion) last December, compared to KWD 3.542 billion ($11.662 billion) a year earlier.

Month-on-month (MoM), Kuwaiti public debt declined by 4.61% in December, from KWD 2.172 billion in November.

It is worth noting that Kuwait’s foreign reserves increased by 7.2% YoY in December to KWD 12.09 billion ($39.9 billion).