Kuwait budget surplus rises to $19.3b

27 Oct 2010

(MENAFN) A report issued by the Central Bank of Kuwait (CBK) showed that the country’s budget surplus rose to $19.31 billion in the first six months of the fiscal year ending next March on higher than forecast oil revenue, Reuters reported.

Revenue in the world’s fourth-largest oil exporter stood at $35.2 billion at the end of September, some 102 percent of the full-year plan.

The Opec member’s oil revenue came in at $33.1 billion and spending in the first six months to September 30 came to $16 billion, 28 percent of the yearly plan.

The surplus reached $16.4 billion in the first five months of this fiscal year and $17.9 billion in April-September of 2009.

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