Gulf petrostate Kuwait tries to kick-start diversification from oil

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Wealthy Gulf nation Kuwait is set to borrow for the first time in almost a decade, raising hopes that the petrostate will pursue an economic transformation to reduce its reliance on oil after lagging behind regional peers.

While Saudi Arabia and Abu Dhabi have set ambitious goals to diversify, spending heavily on everything from artificial intelligence to new cities, Opec’s fourth-largest exporter has remained…