7. Kuwait – Debt Deficit: 6%
The next country with the least debt deficit is not a surprise. Kuwait is commonly known as one of the wealthiest countries in the entire world.
Since its oil reserves were discovered in 1938, Kuwait has been using its vast oil wealth for its financial operation. With approximately $172,608 GDP per capital and only 6% of public debt, this country leads the economy of Persian Gulf region.
Despite being the fourth highest per capita income in the world according to World Bank, Kuwait struggles in developing its economy. Kuwait is now trying to spread its financial system and is looking to become less reliant on oil.
Kuwait has many other things to offer rather than just oil. You may be surprised to find out that it’s theater industry was well known throughout Arab countries in the year of 1960s. Wonder why they never made it into Broadway…
