Financial and Banking News
Kuwait's Draft Budget Projects 34% Cut In Deficit
The Kuwaiti Cabinet has approved a draft budget which envisages a deficit ofKD988mn ($3,304mn) in the next financial year. If achieved, this would representa cut of 34% on the present year and would fulfill recent predictions by thecountry's Finance Minister that he would cut next year's shortfall by KD500mn($1,672mn). The cabinet approved the draft budget on 5 February...