Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

BUDGETS AND REVENUES

Kuwaits 2003-04 Budget Realizes $4.8Bn Surplus

The Kuwaiti budget for 2003-04 realized a surplus of KD1,414mn ($4,793bn), according to closed account figures published in National Bank of Kuwaits (NBK) Economic Brief of 6 October. The realized surplus was largely expected given the high level of oil prices in the period, and the unrealistically low oil price assumption of $15/B used to estimate the budget (MEES, 11...