Home Covid-19 Kuwait leader urges curbing oil reliance to strengthen economy Kuwait imposed a 24-hour curfew on Friday for the next 20 days to contain the spread of the pandemic by Bloomberg May 10, 2020 The sharp decline in oil prices, investments and other assets will have a negative impact on Kuwait’s economy, the Gulf nation’s emir said in a televised address. Sheikh Sabah Al-Ahmed Al-Sabah called on parties to create a programme meant to rationalise government expenditure and reduce dependence on a single commodity in order to build a “stable and sustainable” economy. The pandemic has rocked the global economy and “we’re part of it,” the emir said. “The Kuwait of tomorrow is facing a big, unprecedented challenge,” he said, adding that the country must protect itself from external shocks created by the coronavirus. Kuwait imposed a 24-hour curfew on Friday for the next 20 days to contain the spread of the pandemic. The country also reported its biggest daily jump in the number of new cases on the same day, taking the total to 7,623 infections. Tags Covid-19 Economy Kuwait Lockdown oil 0 Comments You might also like Oil jumps over 2% amid further Red Sea vessel attacks Top marks for GCC nations in digital connectivity index Key trade deal brings UAE, Mauritius closer together Bahrain notched up 2.45% growth in third quarter of 2023