Kuwait forecasts $22.4bn budget deficit

10 February 2010

Kuwait plans to increase spending by about 34% in the fiscal year starting April 1 and is projecting a budget deficit of KD6.46bn ($22.4bn), Bloomberg has reported. Spending is forecast at KD16.16bn and revenue at KD9.7bn in a draft proposal sent to parliament. Oil revenue is projected at KD8.62bn and non-oil revenue at KD1.1bn. The 2010/2011 budget will be based on a price of $43 a barrel for oil, which now trades at about $72 a barrel.

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.

Get Notifications