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  1. Kuwait 2012-13 Budget Maintains Record Spending

    ...ternational Monetary Fund (IMF) in May this year said that Kuwait’s spending is unsustainable and warned that “government expenditure will exhaust all oil revenues by 2017” and that fiscal consolidation is needed in the medium term if current trends continue. But this was dismissed by economists who ma...

    Volume: 55
    Issue: 48
    Published at Fri, 23 Nov 2012

  2. IMF: Hydrocarbon Dependence Leaves GCC Exposed

    ...ending These levels of spending however are unsustainable in the longer-run, the IMF said, suggesting the GCC members should plan to reduce their government spending to make budgets more sustainable. Failure to do so could result in the group’s combined surplus turning into a deficit by as early as 2017...

    Volume: 55
    Issue: 45
    Published at Fri, 02 Nov 2012