Financial and Banking News


Kuwait Aims for Real Spending Cuts

For the past four years, the Kuwaiti government's annual budget has been designated as an "austerity budget", although actual government spending has remained virtually constant at KD3.2bn during this period. The 1986/87 budget, which was officially gazetted on 1 September, may indeed justify such a designation, as for the first time projected spending is being set at a level lower than actual...