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FINANCIAL NEWS
Kuwait’s oil revenues in FY 2013/14 to reach USD84.28b
05 May 2013
(MENAFN) Kuwait’s Al Shall Economic Consultants Company’s Economic Research Unit stated that during the fiscal year 2013/2014, the country’s oil revenues are projected to stand at USD84.28 billion, reported Kuwait News Agency (KUNA).
The amount is higher by USD24.93 billion from the budget estimate; furthermore, it would be achieved in case production levels and prices maintain their current level.
In April, the first month of the fiscal year, the emirate’s oil revenues were expected to have reached USD7 billion, with the average price for the Kuwaiti barrel of oil for the month standing at around USD100 per barrel, higher by 42.9 percent from the new USD70 per barrel estimated for the new budget.
It is worth noting that Kuwait’s total budget revenues for the current fiscal year would reach nearly USD88.49 billion.
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