Middle East Economic Survey
Kuwaits 2005-06 Budget Forecasts Deficit But Is Set To Achieve $13-20Bn Surplus
Kuwait has published its 2005-06 budget forecasting a sizable KD3.1bn ($10.6bn $1 = KD0.292) deficit despite the current record level of oil prices and high level of Kuwaiti production. But given the typically conservative assumptions on which the budget is based, Kuwait looks set to realize yet another large surplus in 2005-06. For the past few years...