Middle East Economic Survey


No 35



Kuwait Oil Earnings Will Fall 41% In FY2009-10, Predicts NBK

Kuwaits budget for the current fiscal year 2009-10 projects a KD4.0bn deficit, including a 36% drop in both revenues and expenditures from previous budget figures, according to the National Bank of Kuwait (NBK). In a 25 August Economic Brief, NBK says: Oil revenues are expected to shrink by 41% on the back of lower oil prices, while non-oil revenues are projected to rise by...