Middle East Economic Survey
Kuwait Budgets For Lower Revenue And Expenditure In 2009-10
The Kuwaiti Council of Ministers on 5 February approved the draft budget for fiscal year 2009-10, which starts on 1 April. The new budget is contractionary with total revenue estimated at KD7,859.3mn ($26,690mn), 38.5% less than 2008-09, and total expenditure of KD12,054.0mn ($40,0935mn), 36.4% less than the previous year. It is mandatory for the Kuwait government to allocate 10%...