kuwait budget 2020

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KUWAIT, Jan 14 (Reuters) - Kuwait expects a budget deficit of 9.2 billion dinars ($30.33 billion) in the fiscal year starting on April 1 after it has deposited 10% of total revenue into the country’s sovereign wealth fund, government figures released on Tuesday showed. Meanwhile, MPs continue to reject the government plans to impose taxes or cut subsidies on specific items. }

Kuwait budget deficit expands to KD 5.6 bln. ------------------- In January, Kuwait expected spending of 22.5 billion dinars and revenues of 14.8 billion dinars in the 2020/2021 budget.

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var width = jQuery(this).val().length * 8; KUWAIT, Jan 14 (KUNA) -- The State of Kuwait's budget for 2020-2021 will have a revenue of KD 14.8 billion (USD 48.7 billion) and an expenditure of KD 22.5 billion (USD 74 billion), while the deficit will be at KD 9.2 billion (USD 30 billion), said the Minister of Finance Mariam Al-Aqeel Tuesday. t.src=v;s=b.getElementsByTagName(e)[0]; Kuwait’s FY 2019-2020 budget indicates a break-even oil price range of $75 to $80 per barrel, based on an average daily oil output of 2.8 million barrels. The minister did not respond when asked how long the country could continue to use the reserve fund to finance its deficit. The Kuwaiti FY 2019-2020 budget, focusing on more transparency and efficiency. #check-also-close, if(width < 50) { (Reporting by Ahmed Hagagy and Alexander Cornwell; writing by Davide Barbuscia; editing by Edmund Blair, Larry King).
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font-size : 14px; That represented no rise in overall spending from the year before, implying that a projected drop in overall revenues, to 14.8 billion dinars from last year’s 16.3 billion dinars, accounted for the deficit increase.

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While expenditures are estimated at about KD22.5 billion (about $74 billion). A major oil exporter, Kuwait was not hit hard when oil prices sank in 2014-2015, but it has not tapped global debt markets since its debut $8 billion debt sale in 2017, because parliament has yet to pass a law that would allow it to raise its debt ceiling and to issue debt with longer maturities.

“Most governments are currently in the process of preparing their budgets for 2019 and the backdrop of higher oil prices means that the authorities are likely to put forward plans to raise spending significantly next year. In January, Kuwait expected spending of 22.5 billion dinars and revenues of 14.8 billion dinars in the 2020/2021 budget.

#buddypress #members-directory-form div.item-list-tabs ul li.selected span, googletag.enableServices(); Revenues in 2019-2020’s budget were estimated at $53 billion and the expenditure at $74 billion. var sf_input = '.search-live';

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#featured-posts .flex-prev:hover, border-color: #37b8eb; “We are firmly on the path towards fiscal reforms,” he emphasized, citing stricter measures dealing with government debt collection, including a settlement cost of KD 341.4 million ($1.1 billion) for the next fiscal year. })(window, document, 'script', 'https://google-analytics.com/analytics.js', 'ga');

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The general budget of the state of Kuwait reflects the approved plan for the financial year 2019/2020. But lawmakers want to see plans to reform the economy and shift its heavy reliance on oil, which made up 89% of revenues last fiscal year. } body.dark-skin #buddypress div.item-list-tabs ul li a span, googletag.defineSlot('/21718123535/arabtimes', [300, 600], 'div-gpt-ad-1531122919762-0').addService(googletag.pubads());

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font-family: 'Open Sans'; fbq('track', 'PageView'); The state transfers 10 percent of total annual revenue to the Future Generations Fund, which is managed by the Kuwait Investment Authority (KIA). !function(f,b,e,v,n,t,s) #main-nav ul > li.mega-menu:hover > a:after { #buddypress div.item-list-tabs ul li a span, Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. a:hover { jQuery(document).ready(function(){

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