Kuwait – Kuwait’s life-after-oil fund rises to record $700B (Fiona MacDonald, Bloomberg, Al Jazeera)

Kuwait is making strides in an effort to invest its way out of dependency on oil money.

The Future Generations Fund, a national savings pot designed to help the country prepare for life after oil, has risen to about $700 billion, according to a person with knowledge of the matter. Its assets were valued at about $670 billion at the close of the last fiscal year on March 31, the person said, asking not to be named discussing confidential information.

Kuwait’s life-after-oil fund rises to record $700B | Business and Economy News | Al Jazeera