VOL.XXXVI
NO.49
6-SEPTEMBER-1993
Financialand Banking News
KUWAITI FINANCE
KuwaitiBudgetPegsExpenditureAsOil Revenues Close
Spending Gap
The Kuwaiti budget for 1993/94,whichwas approved bythe
NationalAssembly on 1September,projects a 22% increase in revenues but cuts expenditure slightly belowthelevel
of the previous year.As aresult, the deficit is expected to fall to KD1,233mn ($4,145mn). The Finance Minister,Mr.
Nasir 'Abd Allah al-Rudhan, says that the shortfall will be financedfrom reserves....
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