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FINANCIAL NEWS
Kuwait posts budget surplus of USD47.6b in 9 months: CB
12 Feb 2012
(MENAFN) Kuwait’s central bank said that in the country’s first 9 months of its 2011-2012 fiscal year, budget surplus expanded to USD47.6 billion, from USD25.20 billion in the previous year, reported Arab News.
The bank added that the increase in the budget surplus, which represented 37 percent of the country’s 2010 gross domestic product (GDP), resulted from high oil income and lower spending.
It also said that in the period from April-December, revenues reached around USD77 billion, whereas spending reached USD29.88 billion.
It is worth noting that in 2011, Kuwait increased social spending, including cash grants and free food rations for its citizens.
More News
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Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
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BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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