Kuwait-Mubasher: The interim budget of Kuwait reflected a marginal decline in total government spending until August due to a slight decrease in instant spending against a rise in capital spending.
Revenues retreated as oil prices have been falling since 2014, according to a report issued by NBK.
Kuwait’s government recorded a surplus of KWD 3.1 billion during the five months of the fiscal year.
Total spending scored KWD 4.2 billion until August, a drop of 6% compared to figures in the same period of 2014.
Capital spending amounted to KWD 0.4 billion during the period, soaring 35% on an annual basis.
Government revenues plunged 42% year-on-year to reach KWD 7.3 billion until August.
Budget surplus registered KWD 3.1 billion, the lowest level in ten years.