Financial and Banking News
BUDGETS AND REVENUES
Kuwait's Budget Deficit Evaporates Again
Figures released last week by the Central Bank of Kuwait indicate that the budget deficit for the current fiscal year (ending on 30 June) has been substantially reduced from the KD704.2mn ($2.3bn) envisaged when the budget was drawn up last year. This follows the established Kuwaiti practice of over-forecasting state expenditure and including certain transfers to the Reserve Fund for Future...