Kuwait’s budget is projected to show a deficit of 5.6 billion Kuwaiti dinars ($18.33bn) for the 2024-2025 fiscal year, Reuters has reported. Expenses are estimated at 24.5bn dinars and revenues at 18.9bn, the Ministry of Finance announced on Sunday.
Government spending must be fixed at 24.5 bn dinars in the 2027-2028 budget to control budget growth, it added.
The liquidity of the General Reserve Fund, from which the budget deficit is financed, decreased to two billion dinars last March from 33.6bn ten years ago due to increasing withdrawals, said the ministry.
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