The Kuwait parliament has approved the budget for fiscal year 2017-18 starting on 1 April, with oil revenue set to remain relatively flat at KD11.7bn ($38.6bn). The budget projects that Kuwait will run its fourth consecutive deficit, with the shortfall set to rise to $26.1bn for the current year ending March 2018.

Parliament passed the budget on 8 June with seemingly little or no amendments to the key numbers from the draft proposed by the cabinet on 30 January, although full details of the...