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Kuwait’s projects market has been particularly hard hit by Covid-19, with significant cuts to capital spending on projects in 2020, even in the once-unshakable oil and gas sector. With oil revenues making up more than 90 per cent of the country’s revenues, Kuwait’s government has had to wrestle with the economic and social demands of the pandemic and at the same time try to maintain control of the nation’s finances while facing a significant fall in its income. Lowering risk Al-Ghanim says that the region’s construction industry will continue to face tough challenges in the coming 24 months. For the foreseeable future, the economic climate means that contractors are going to have to “continue to deal with clients that are under financial duress”, he says. ....