Financial and Banking News
BUDGETS AND REVENUES
Kuwaiti Deficit Disappears as Cash Piles Up
Higher than expected oil revenue and expenditure running at levels lower thanplanned have conspired to effectively wipe out the Kuwaiti Government's budgetdeficit in 1987/88. Despite this, the government has gone ahead with its plannedborrowing scheme, and by the end of March 1988 is estimated to have raised butnot spent a cash mountain worth $1.6bn.
There are the conclusions...