Middle East Economic Survey
BUDGETS AND REVENUES
Kuwait Budget For 2004-05 Projects $11Bn Deficit, But Surplus Likely To Be Realized
The Kuwaiti parliament on 29 June approved the state budget for 2004-05, which forecasts a deficit of KD3.2bn ($10.88bn). Expenditures are set at KD6.2bn ($21bn) while revenues are forecast at KD3.3bn ($11.2bn), leaving a deficit of KD2.9bn ($9.8bn). However, the deficit rises to KD3.2bn as a result of the legally mandated deduction of...