Financial and Banking News
BUDGETS AND REVENUES
Kuwaiti Budget Deficit Narrows Marginally
The Kuwaiti Government has announced the outline of the budget for the1988/89 fiscal year (beginning on 1 July), which forecasts a marginal reductionin the official deficit from KD1,376.5mn ($4,846mn) to KDl,346.2mn ($4,780mn).This reduction is the result of a 3.8% increase in revenues coupled with a 1.2%increase in spending. A detailed breakdown of the government's budget will...