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FINANCIAL NEWS
Kuwait’s budget posts USD60.5b surplus in 10 months
28 Mar 2013
(MENAFN) Kuwait’s Finance Ministry stated that during the first 10 months of the current fiscal year, the budget surplus reached USD60.5 billion, reported Gulf Daily News.
The ministry added that in the 10 months to the end of January, income reached US94.56 billion, more than the USD48.68 billion the government had forecasted for the period.
Moreover, oil revenues accounted for 94 percent of the emirate’s income, at USD89.30 billion.
It is worth noting that expenditure stood at USD34.32 billion, compared with USD74.24 billion originally allocated for the 10-month period.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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