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FINANCIAL NEWS
Kuwait continues to record budget surpluses
03 Jul 2017
(MENAFN) Despite a decline in government profits of Kuwait following the sustained fall in oil prices, the nation continues to record surpluses, due to government’s fiscal management policies.
Meanwhile, total government revenues for the country plunged by 38 percent year on year to 17.7bn Kuwaiti dinars amid 2015-2016.
In addition, non-oil revenues receded by 9 percent year on year amid the same period to KWD5.6bn, while spending went down by 11 percent for the same period.
Currently, Kuwait has highest account surplus in GDP terms and lowest break even oil price for this year and 2018 Kuwait will have the highest current account surplus.
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