By: Ahmed Awad
Kuwait-Mubasher: Kuwait estimated the state budget for the fiscal year 2016-2017 with a deficit of KWD 12.2 billion.
The budget features revenues of KWD 7.4 billion and spending of 18.9 billion, according to Kuwait’s Finance Minister Anas Al Saleh.
On the sidelines of a press conference on Thursday, Al Saleh added that oil revenues dropped 74.2% so oil revenues are projected to reach KWD 5.8 billion in the new budget.
Kuwait’s budget will be based on estimated oil price of $25 barrel.
Translated by: Julian Nabil
Source:
Mubasher Exclusive