Kuwait budget deficit reaches $7.9bn

Kuwait’s general budget registered a deficit of 2.4 billion dinars ($7.95 billion) in the first eight months of the fiscal year 2017-18, the Ministry of Finance announced today.

According to the ministry’s data, the budget deficit during the first eight months of 2017 which ended in November, represented 30.4 per cent of the estimated total budget deficit for the current financial year, which amounted to 7.9 billion dinars ($ 26.17 billion).

Kuwait’s financial year begins in early April and lasts until March of the following year.

The ministry added that the public revenues registered 9.83 billion dinars ($32.57 billion), while the government expenditure amounted to 9.97 billion dinars ($33 billion) during the same eight months of 2017.

Some 986 million dinars ($2.33 billion) had been allocated and disbursed to the state’s Future Generations Fund (FGF), the ministry added.

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