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FINANCIAL NEWS
Kuwait’s gov’t posts USD52b surplus in Apr-Nov 2012
14 Jan 2013
(MENAFN) According to Kuwait’s finance ministry’s data, during the April-November period of 2012, the government’s budget surplus reached USD52 billion, reported Arabian Business.
The figure is higher than the record surplus of USD46.81 billion logged for full year 2011/2012 due to high oil income and lower expenditure.
In the 8-month period, total revenue stood at USD76.60 billion, whereas expenditure was USD24.47 billion.
It is worth noting that the emirate has been forced to postpone the implementation of major parts of a USD107 billion economic development plan announced in late 2010 as a result of the country’s political turmoil.
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