Financial and Banking News

Budgets & Revenues

Kuwait To Cut Project And Miscellaneous Spending By 25% In PresentYear

Kuwaiti Finance Minister Nasir 'Abd al-Allah al-Rudhan is proposing to reducegovernment spending on projects, equipment and miscellaneous items by 25% fromtheir budgeted allocations for the present financial year. The proposal willhave to be considered by the cabinet. Mr. Rudhan says that the cuts arenecessary to allow Kuwait to meet some...