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Kuwait Issues KWD 1.2bn treasury bonds in 3M

Kuwait Issues KWD 1.2bn treasury bonds in 3M
The issues is aiming at financing the budget deficit (Photo credit: Arabianeye - Reuters)

By: Ahmed Awad

Kuwait – Mubasher: The Central Bank of Kuwait (CBK) issued on Wednesday treasury bonds worth KWD 100 million ($332 million).

The bonds will be matured in June 2017 with an interest rate of 1.25%, according to a statement by the bank.

With this, CBK’s treasury bonds issues reached about KWD 1.2 billion ($3.97 billion) since the beginning of the fiscal year in April.

The issues is aiming at financing the budget deficit, which is expected to reach about KWD 12.2 billion in 2016-2017 after deducting 10% from the revenues for the Kuwait Future Generations Fund.

Translated by: Elwy el-Manzalawy