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FINANCIAL NEWS
Kuwait’s state expenditure to hit USD78.91b in 2015
29 Dec 2014
(MENAFN) Kuwait’s National Assembly’s State Budget Committee said that the state expenditure is expected to amount to USD78.91 billion in the fiscal year of 2014/2015, KUNA reported.
The committee said that the expenditure will be distributed into five sections in the state budget: salaries, commodity and service requirements, transport, construction projects and various expenses.
According to the division, public spending on salaries is estimated at USD18.70 billion, spending on commodity and services USD13.26 billion, construction USD7.1 billion, transport USD986.39 million, and spending on various expenses will reach USD38.43 billion
Meanwhile, the committee also pointed out that the budget dependency on oil revenues is more than 90 percent, or an estimation of USD64.62 billion, based on a hypothetical crude price of USD75 a barrel.
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