NO. 39

27 JUNE 1994

Financial and Banking News

Budgets & Revenues

Kuwait's Parliamentary Committee May Turn To Taxation To Curb BudgetDeficit

With the deficit in Kuwait's draft budget projected to rise to KD2.1bn($7.1bn) in the fiscal-year 1994-95 (which starts on 1 July) from KD1.5bn($5.1bn) in the previous year, the Kuwait National Assembly has asked experts todraft the country's first law to tax nationals. The Chairman of the Assembly'sFinance and Economic Committee, Mr. Isma'il...