NO. 46


Financial and Banking News

Budgets & Revenues

Kuwaiti Budget Shows Signs Of Restraint, Although Deficit Widens

The Kuwaiti budget for 1994/95, which was passed by the National Assemblyon 6 August, projects a deficit of KD1,503mn ($5,039mn) compared to KD1,223mn($4,100mn) for the previous year. If the statutory transfer to reserves of 10%of total revenues is taken into account, the deficit becomes higher - see thetable below. Despite the widening deficit,...