Financial and Banking News


Deficit in Kuwait's 1987-88 Budget Estimated to Rise by 3.4%

The Kuwaiti Council of Minister on 28 June approved the state budget for 1987-88 (covering the fiscal year 1 July 1987-30 June 1988), which estimates the total deficit for the year at KD1,376.5mn ($4,882.9mn), a 3.39% increase over the deficit of KD1,331.4mn ($4,723mn) in 1986-87 (for details of the 1986-87 budget see MEES, 15 September 1986). As was the case in last year's...