VOL. XLII

No. 04

25-January-1999

KUWAIT

Kuwaits Deficit Debate: Parliament Presents Reform Plan

Kuwaits Minister of Finance, Shaikh 'Ali Salim al-Sabah,has announced that the 1999-2000 budget will be based on an oil priceassumption of $8/B, $2 less than the previous year, causing the budget deficitto increase by some KD200mn to reach almost 50% of total budgeted expenditures.Kuwaits 1998-99 KD4.362bn ($14.45bn) budget carries a projected net deficit ofKD1.919bn ($6.36bn the largest since the...