The reserves are invested in two state funds, the State Reserve Fund with $149 billion and the Reserve Fund for Future Generations with $399 billion, Al Qabas newspaper said, citing a report by the Audit Bureau, Kuwait’s state accounting watchdog.
Kuwait had accumulated reserves of $548 billion as of June 30 after continued growth in the first six months of 2014, a local daily reported on Sunday.
The reserves are invested in two state funds, the State Reserve Fund with $149 billion and the Reserve Fund for Future Generations with $399 billion, Al Qabas newspaper said, citing a report by the Audit Bureau, Kuwait’s state accounting watchdog.
Both funds are run by the Kuwait Investment Authority, the country’s sovereign wealth fund.
The report said the reserves had increased by $15.7 billion in the first six months of the year.
Authorities have not officially disclosed the amount of their reserves, but estimates had put them at around $500 billion at the end of March this year.
