Kuwait Finance Minister: State budget deficit of KD6.5bn for 2018-2019

KUWAIT, Kuwait has announced a 2018-2019 state budget with a deficit of KD6.5 billion – US$21.6 billion.

The Kuwaiti Minister of Finance, Nayef Al-Hajraf on Monday said that the deficit is estimated following the deduction of allocations for ‘Future Generations Fund’, the Kuwait News Agency, KUNA, has reported.

Speaking at a news conference held to announce the state budget, the Kuwaiti minister said estimated total revenues amounted to KD15 billion, or $49.9 billion, and expenditures hit KD20 billion, around $66.6 billion, on the basis that a Kuwaiti oil barrel is worth US$50.

Source: Emirates News Agency