VOL. XXXIX

No. 54

7-October-1996

KUWAIT

Kuwait Parliament Approves 1996-97 Budget

The Kuwaiti parliament on 1 October approved the 1996-97 budget, which projects total expenditure at KD4.21bn ($14bn), total revenue at KD3.00bn ($10bn) and a deficit of KD1.21bn ($4bn) before allocations to the Reserve Fund for Future Generations (RFFG). The deficit rises to KD1.51bn ($5bn) after the allocation of KD300mn ($1bn), or 10% of total state revenue, to the fund. Oil revenue in the budget is...