Kuwait Plans Budget Control Amid Projected $18.33 Billion Deficit

Kuwait, 15 July, 2024 : Kuwait's Ministry of Finance has projected a deficit of 5.6 billion dinars ($18.33 billion) for the 2024-2025 fiscal year, with anticipated expenses reaching 24.5 billion dinars and revenues at 18.9 billion dinars. To curb budget growth, the government aims to cap spending at 24.5 billion dinars for the 2027-2028 budget cycle.

The Ministry also highlighted a decline in the liquidity of the General Reserve Fund, used to cover budget shortfalls, which decreased from 33.6 billion dinars a decade ago to 2 billion dinars as of last March, primarily due to increased withdrawals.

Source : www.zawya.com