Arab Today, arab today kuwait posts budget surplus of more than 19bn
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Kuwait posts budget surplus of more than $19bn

Arab Today, arab today

Arab Today, arab today Kuwait posts budget surplus of more than $19bn

Manama - Arabstoday

OPEC-member Kuwait posted a budget surplus of KD5.28 billion ($19.4 billion) in the 2010/11 fiscal year, down 38 percent from the preliminary figure, finance ministry data showed. Revenues reached KD21.5 billion, with oil revenues contributing KD19.9 billion, while spending amounted to KD16.2 billion in the fiscal year which ended in March, the data showed.In May, the country posted a preliminary budget surplus of KD8.5 billion, or 23.1 percent of Kuwait\'s gross domestic product, above market expectations and the 6.4 billion seen in the previous fiscal year.Kuwait transfers ten percent of its revenues to a future generations fund, managed by the country\'s sovereign wealth fund. The net surplus for 2010/11 after the transfer is KD3.13 billion, the final data showed. Kuwait had set its 2010/11 budget with a deficit of KD6.6 billion, assuming that crude, its main revenue earner, would fetch $43 per barrel. US benchmark crude prices floated between $65 and $115 per barrel last year.Kuwait, the world\'s fourth-largest oil exporter, posted an KD8.18 billion surplus in its 2009/10 budget. In June, Kuwait\'s parliament approved a budget of KD19.4 billion for the 2011/12 fiscal year, the biggest since at least 2003 and a 19 percent jump from the previous year, basing it on an oil price of $60 per barrel. Analysts polled by Reuters in June forecast that given the higher oil prices, Kuwait will post a fiscal surplus of 20.2 percent of GDP in 2011/12, the highest in the Gulf. Concerned about regional unrest, Gulf oil exporters have boosted government spending to ease social tensions. Kuwait has seen limited protests and frequent challenges to the government by its parliament, the most outspoken in the Gulf Arab region. In January, the government announced plans to spend nearly $5 billion, or around 4 percent of its GDP, on cash grants and free food rations. From / Arabian Business News

arabstoday
arabstoday

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*

Arab Today, arab today kuwait posts budget surplus of more than 19bn Arab Today, arab today kuwait posts budget surplus of more than 19bn

 



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*

Arab Today, arab today kuwait posts budget surplus of more than 19bn Arab Today, arab today kuwait posts budget surplus of more than 19bn

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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