Oil production retains its key role in the economy, however plans are under way to encourage diversification away from hydrocarbons towards an economy that is more knowledge based. The political climate has been characterised of late by a number of disputes, often resulting in either the resignation of the government or the dissolution of parliament, which has contributed to the slow progress of some projects.

Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment. Although tapering the US Federal Reserve’s quantitative easing programme is likely to affect global liquidity and play a key part in growth prospects for 2014/15, the GCC economy is still forecast to expand by 4.1% for the year, and in Kuwait, where a handful of new PPP plans and deals are slated for 2014, there are promising signs that the year could be a landmark for economic growth and expansion.

The Minerals Yearbook is an annual publication that reviews the mineral and material industries of the United States and foreign countries. The Yearbook contains statistical data on materials and minerals and includes information on economic and technical trends and development. The Minerals Yearbook includes chapters on approximately 90 commodities and over 175 countries. This volume of the Minerals Yearbook provides an annual review of mineral production and trade and of mineral-related government and industry developments in more than 175 foreign countries. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook.

Home to the largest per capita reserves and fourth-largest total reserves of crude oil within OPEC, Kuwait’s public finances have suffered in 2016 following the rapid decline in oil prices, which drove oil revenues down from $108.6bn in 2013 to $51.8bn in 2015. Despite this Kuwait has resisted significant budgetary cutbacks: spending levels in 2016 were cut by just 1.6%, and the considerable financial buffers built up from budget surpluses in the years leading up to 2014 are expected to cushion the budget deficit. The country continues to push ahead with key public investments, with Parliament allocating $155bn to the Kuwait Development Plan 2015-20 to fund infrastructure, utilities and housing developments. The plan focuses on further integrating the private sector into areas of the economy traditionally under state control and aims to raise the non-oil sector’s GDP contribution to 64% in 2015-20, up from an average of 45.1% in 2010-13. Elsewhere promising moves are being made to cut state subsidies, with the government opting to liberalise diesel and kerosene prices and reduce subsidies on aviation fuel in January 2015, generating savings equal to 0.3% of GDP.

Across the ages, technological developments have been accelerated by the military. This results from the fact that able-bodied vibrant youths are generally involved and are also exposed to high-tech training prevailing at their times for assignments (defence and security) that are essential but not desired. They form the Armed Forces for the nations. Such brilliant military officers like Caesar and Napoleon made their marks; and, in contemporary times, the Armed Forces of United States, France, Britain, Australia, etc are making remarkable contributions to technological developments. Such infrastructure as the Internet, the GPS and the cell phones are products that have significant military contributions. This book scans across the major regions of the world, highlights the efforts of representative countries in the regions and observes that nations that have harnessed the efforts of their Armed Forces have progressively developed. It is also observed that developments in America and Europe, though not entirely dependent on their Armed Forces, have been greatly affected by their efforts. In Asia, such countries as the People's Republic of China, Brazil, India, Pakistan and Singapore utilise the human and material resources within the Armed Forces for national growth and cohesion. Development effort is least in the African Region, except South Africa and Egypt; notwithstanding the high potentials as exhibited by Nigeria's Armed Forces. Although attempts to industrialise through the Armed Forces may be able to create economic development for developing nations, such factors as historical background, economic resources, political climate, government policies and infrastructure are equally important. Economic development programme of an aspiring country should: i. promote education and access to knowledge ii. aspire to economic self-sufficiency in economic power iii. allow and promote private sector and foreign participation in defence production, research and development iv. commit itself to the establishment and support of defence industries v. indigenise defence programmes, establish a balance between military and economic development and vi. mobilise the nation's economy through technology partnership with the private sector and foreign investors.