(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, June 30 (KUNA) -- Kuwait government Sunday voiced relief for State's policies to achieve economic openness while commending Morgan Stanely Capital International's (MSCI) upgrade of Boursa Kuwait to an emerging market.
The government, in its weekly meeting chaired by His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah, was briefed by Minister of Finance Dr. Nayef Al-Hajraf, officials in the ministry and Public Investment Authority over the assets and obligations as of March 31, 2019.
The officials also briefed the cabinet about reserve of future generations and the State's general reserve as of March 31 this year, Deputy Premier and Minister of State for Cabinet Affairs Anas Al-Saleh said in a statement.
The cabinet, said Al-Saleh, voiced relief over financial positions "which reflects success of economic openness policies" with the objective of honoring His Highness the Amir's desire to transform Kuwait into a financial and commercial hub.
Minister of Trade and Industry and Minister of State for Services Khaled Al-Roudhan briefed the cabinet about MSCI's upgrade of Boursa Kuwait to an emerging market status as of May 2020.
He said the upgrade was a result of reforms at Kuwait stock market which would improve the national economy and boost confident of local and foreign investors.
Al-Roudhan, meanwhile, briefed the executives about a report by the International Civil Aviation Organization (ICAO), regarding security inspection carried out recently by the Universal Security Audit Program Continuous Monitoring Approach (USAP-CMA) on the State of Kuwait, which found no "serious security loopholes" that could affect aviation security.
The government, reacting to a no-confidence motion against Al-Hajraf at end of an interpellation by MP Mohammad Al-Mutairi, said it was confident the lawmakers would reaffirm confidence in Al-Hajraf to continue his achievements.
On the other hand, First Deputy Prime Minister and Defense Minister Sheikh Nasser Sabah Al-Ahmad Al-Sabah briefed the cabinet about a meeting of the international coalition fighting so-called Islamic State (IS), during which he highlighted Kuwait's counter-terrorism efforts.
Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah also talked about a recent visit by a delegation of the UN Security Council, co-chaired by Kuwait and the US, to discuss regional and international issues of mutual interest. (end)
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