Kuwait’s $9.9 Billion Plan Adds to Gulf Bond Sale Frenzy
- Kuwait also plans to raise up to 2 billion dinars locally
- Kuwait looking to plug budget deficit of 9.5 billion dinars
Kuwait Plans $9.9B Bond Sale
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Kuwait plans to raise as much as $9.9 billion from international debt markets to help plug its budget deficit as lower oil prices squeeze public finances.
The OPEC member also plans to borrow as much as 2 billion dinars ($6.6 billion) from the domestic market, Finance Minister Anas Al-Saleh said in speech on Sunday. The budget deficit is expected to widen to 9.5 billion dinars in the 2016-2017 fiscal year, which began April 1, he said.