Kuwait expects a budget deficit of $40bn

10 February 2016

Estimate is based on an average oil price of $25 a barrel

Kuwait is expecting to see a budget deficit of $40bn in the next financial year according to state-owned Kuwait Petroleum Corporation (KPC) CEO Nizar al-Adsani.

Speaking at a conference in Kuwait Al-Adsani said that the forecast was based on an average oil price estimate of $25 a barrel.

He also said the KPC expected the state deficit to be $6.7bn for the current financial year.

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