Tax & Spend
Kuwait Sees Deficit Narrowing 13.5% to $19.1 Billion Next Year
The Shuaiba oil refinery south of Kuwait City.
Photographer: Yasser al-Zayyat/AFP/Getty ImagesThis article is for subscribers only.
Kuwait unveiled budget proposals that forecast a 5.89 billion dinar ($19.1 billion) deficit for the fiscal year starting April 1.
The Gulf nation is projecting revenue of 18.66 billion dinars, down 4.1% from the current year’s estimate, the Ministry of Finance said Tuesday. Non-oil revenue is forecast to rise 5.7% to 2.42 billion dinars.