VOL. XXXIX No. 59 11-November-1996KUWAIT

Kuwaiti Budget Tightens Spending Commitments The Kuwaiti budget for 1996-97 continues the policy of tightening public expenditures while basing revenues on a conservative estimate of oil prices. Total revenues are booked to rise by 3% to KD3,000mn as a result of slightly higher oil income - meaning that KD300mn will be syphoned into the Reserve Fund for Future Generations - while total expenditures are set to fall by 0.5% to 4,210mn. The consensus...