Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

KUWAIT

BUDGETS AND REVENUES

Kuwait Unveils Typically Conservative Budget For FY 2004-05

The Kuwaiti Government is forecasting an increased budget deficit of KD3,310mn ($1=KD0.294) for the 2004-05 fiscal year (1 April-31 March) up from the KD2,625mn deficit estimated for the previous year. The budget is typically conservative and seen by many as unrealistic given it is based on an oil price of $15/B, which is sharply lower than the current...