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 ( ) 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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