NO. 46


Financial and Banking News

Budgets & Revenues

Kuwait Budgets for $6.2bn Deficit in Present Financial Year

Kuwait is projecting a budget deficit of KD1,787mn ($6,226mn) for thefinancial year 1992/93, which began on 1 July. Oil revenues, which are toaccount for 90% of total revenues, are budgeted at KD1,995mm, similar tobudgeted oil revenue figures in the years preceding the Iraqi invasion.Expenditure, at KD4,000mn, remains significantly higher than in pre-invasion...