KUWAIT
Kuwait Budget Surplus Falls As Spending Soars
Kuwait realized a budget surplus of KD12.70bn ($44.45bn) in 2012-13, according to the finance ministry’s closed accounts. However, the net surplus falls to KD4.7bn ($16.45bn) – less than half the 2011-12 figure – after the mandatory allocation of 25% of revenue to the Reserve Fund for Future Generations (RFFG). For 2011-12 only 10% of revenue was allocated to the RFFG (see table). Total revenue in...
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