According to a forecast by the National Bank of Kuwait (NBK), the Gulf state could record a budget surplus of up to KD5.7bn ($19.6bn) this fiscal year despite boosting spending by 33%, AFP has reported. The budget, which was passed by parliament in June, projects a deficit of $22.7bn at the assumption of an oil price of $43 a barrel but actual price has so far been between $70 and $80 a barrel. Revenues are estimated at $33.5bn while spending is estimated at $56.2bn, NBK said.
You might also like...
McDermott completes financial restructuring exercise
28 March 2024
Region heads for hotel boom
28 March 2024
Lowest bidders emerge for Kuwait housing project
28 March 2024
Redcon wins Red Sea Triple Bay infrastructure deal
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.