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FINANCIAL NEWS
Kuwait views USD 12.8bn shortage in 2016
10 Jan 2016
(MENAFN) The temporary public finance numbers for the Jan-Aug period of fiscal year 2015/16 emphasize a decline in government spending, as the price of oil fell to a seven-year low.
Additionally, the government logged an initial deficit of USD 6.24bn over the period before the change to the Reserve Fund for Future Generations (RFFG).
Whereas in Nov, the government spending reached USD 21.67bnn fiscal-year-to-date; this number was 22 percent lower than during the same period last year.
Actual spending was higher at USD 36.7bn, as stated to new data by the Ministry of Finance, also the government has payments due of USD 3.74bn.
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