Standard & Poor's Ratings Services has downgraded Kuwait to (A+) due to the lack of a comprehensive financing strategy, and the outlook is still Negative.
According to Arab Net, the agency stated in a report that the Kuwaiti government has not yet enacted a comprehensive strategy to strengthen the main source of financing the budget deficit, the General Reserve Fund, which is being depleted.
S&P still expects Kuwaiti authorities to adopt a religion law, or to overcome parliamentary opposition and gain access to other alternative financing methods.
