VOL. XLI

No. 39

28-September-1998

KUWAIT

Declining Oil Prices And Budget Revenues

According to Kuwaiti economist Dr. Jasimal-Sa'dunof Al Shall Consultants, the deficit in the 1998-99 Kuwaitibudget will be partfinanced from the investment income earned from Kuwaiti financial reserves, estimated tototal $40bn. Dr. Sa'dun said that the countrysreserves which are invested in bank deposits, bonds and real estate, generate an annualincome of more than $3.3bn. The figure for Kuwaiti reserves given by...