kuwait sees budget deficit widening by 50 in 201617
Last Updated : GMT 13:01:02
Arab Today, arab today
Arab Today, arab today

Kuwait sees budget deficit widening by 50% in 2016-17

Arab Today, arab today

Arab Today, arab today Kuwait sees budget deficit widening by 50% in 2016-17

Kuwait is expected to set the price of oil for the 2016/17 budget
Kuwait - Arab Today

Kuwait’s finance ministry said that the oil exporter’s 2016-17 draft budget forecasts a deficit of 12.2 billion dinar ($40.2 billion), nearly 50 percent higher than the previous year, due to falling crude prices.
The ministry said in a statement that expected revenues will be 7.4 billion dinars while expenditures are expected to be 18.9 billion dinars, a drop of 1.6 percent from a year earlier.
The deficit for the fiscal year, which runs from April 1 to end of March, includes 0.7 billion dinars contribution to the Generations Fund, a nest egg for when oil supplies diminish or the economy suffers other shocks.
Kuwait’s emir, Sheikh Sabah Al-Ahmed Al-Sabah, last week called for budget cuts and better management of spending to cope with declining revenues due to lower oil prices.
Kuwaiti crude prices dropped to around $19.50 a barrel on Jan. 21, but have since rebounded and stood around $23.34 on Thursday.
The ministry said revenues would cover only 71 percent of state salaries and associated costs, which are estimated at 10.4 billion dinars.
The budget provides for 2.9 billion dinars for state subsidies, while capital expenditures are set at 3.3 billion dinars or 17 percent of budget.
The statement did not say how the deficit would be financed but the government is likely to resort to borrowing from state reserve funds.
Finance Minister Anas Al-Saleh said earlier this week that he expected the price of oil for the 2016/17 budget to be set at around $25 a barrel. 
The 2015-16 state budget, which was approved by parliament last July, envisaged a deficit of 8.18 billion dinars ($27.0 billion) — nearly half of total spending.

Soure: Arab News

arabstoday
arabstoday

GMT 01:56 2017 Wednesday ,22 November

AED51.4b approved for 2018 Federal Budget

GMT 23:41 2017 Tuesday ,21 November

DFM welcomes delegation from Indonesian Stock Exchange

GMT 23:05 2017 Tuesday ,21 November

We must preserve our national gains

GMT 15:25 2017 Tuesday ,21 November

Ratings boost for Saudi reform program

GMT 11:46 2017 Tuesday ,21 November

S&P affirms Saudi Arabia credit ratings

GMT 23:37 2017 Monday ,20 November

Midfield Terminal Building is 86% complete

GMT 22:55 2017 Monday ,20 November

GCC pavilion to showcase at Expo 2020 Dubai
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait sees budget deficit widening by 50 in 201617 kuwait sees budget deficit widening by 50 in 201617

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait sees budget deficit widening by 50 in 201617 kuwait sees budget deficit widening by 50 in 201617

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday