VOL. XXXVII

NO. 51

19-SEPTEMBER-1994

Financial and Banking News

Budgets & Revenues

Kuwaiti Budget Shows Spending Restraint And Cautious Oil Income Forecast

The Kuwaiti budget for the present year, the full text of which was publishedin the Official Gazette on 28 August, shows a clear attempt to reduce spending,although the inclusion for the first time of the full defense allocation willresult in total expenditure exceeding last year's level. On revenue side, theprojections for oil income are...