FINANCIAL NEWS

Kuwait reins public spending, IMF urges

02 Oct 2013

(MENAFN) The International Monetary Fund said that Kuwait must lessen its public spending in order to control its fiscal status balanced and strong, according to Arab News.

Kuwait should decrease its dependence on oil economy and continue working on its development plan which worth USD106 billion.

The country’s budget surplus is expected to decrease 27.4 percent of GDP during the fiscal year which began in April.

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