VOL. XXXVII

NO. 26

28-MARCH-1994

Financial and Banking News

Budgets & Revenues

Kuwait Parliament Approves KD3.5Bn Arms Expenditure

Kuwait's National Assembly has approved a spending allocation of KD3.5bn($11.7bn) to cover weapons purchases during the next 12 years. The allocationwas first ordered by an Amiri decree in 1992 while the National Assembly wasstill in suspension. The Assembly is now in the process of ratifying orrejecting decrees published in its absence.

The KD3.5bn allocation...