VOL. XL No. 185-May-1997KUWAITKuwait Government Sees Lower Deficit In 1997-98 Draft Budget

The Kuwaiti Government has approved a draft budget for 1997-98 with adeficit of KD1.17bn ($3.85bn) before allocation to the Reserve Fund for Future Generations(RFFG), some 3.3% below last year's figure of KD1.21bn (KD3.98bn). Expenditure in 1997-98is set to rise 3.8% to KD4.37bn ($14.37bn), as is revenue by 6.7% to KD3.2bn ($10.53bn).Oil revenue is flat at KD2.56bn ($8.42bn), but non-oil revenue is...