Middle East Economic Survey
Kuwaits Parliament Approves Expansionary 2010-11 Budget
Kuwaits parliament approved the 2010-11 budget on 30 June, which increases spending by a substantial 67.2% from the previous year. It projects a deficit of KD7.55bn ($25.97bn) with expenditure at KD16.3bn ($56.07bn), and revenues of KD9.72bn ($33.35bn), which is up from the KD8.07bn ($27.68bn) expected for the previous year. However, actual 2009-10 revenue was KD17.92bn ($61.48bn)....