Middle East Economic Survey

VOL. XLVII

No 27

05-July-2004

KUWAIT

Kuwaits National Assembly Approves KPCs 2004-05 Budget

Kuwaits National Assembly on 22 June approved Kuwait Petroleum Corporations (KPCs) 2004-05 budget (beginning on 1 April 2004), with revenues projected at KD4.37bn ($14.81bn), and spending at KD3.97bn ($13.45), leaving a net profit of KD400mn ($1.36bn). Oil revenues were calculated at $15/B and daily production at 2mn b/d. These estimates are well below actual figures for the...