October 23, 2019 / 3:41 PM / a month ago

Kuwait's audit body warns against depletion of sovereign fund assets

KUWAIT, Oct 23 (Reuters) - Kuwait’s State Audit Bureau warned against further withdrawals from the Gulf state’s General Reserve Fund and called for economic reforms to reduce the government reliance on oil revenues, it said in a report on Wednesday.

The General Reserve Fund’s assets fell 5.4% to 22.88 billion Kuwaiti dinars ($75.45 billion) in the second quarter of 2019, it added. ($1 = 0.3033 Kuwaiti dinars) (Reporting by Ahmed Hagagy Editing by Chris Reese)

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