RIYADH: Kuwait’s budget deficit is expected to decrease by 13.5 percent in the 2024-25 fiscal year, according to a draft budget released by the Ministry of Finance.
The shortfall is forecasted to hit 5.89 billion dinars ($19.15 billion), with total revenues estimated to amount to 18.6 billion dinars, a 4.1 percent decline from the previous fiscal year.
The draft budget for the year sees oil revenues at 16.23 billion dinars, down 5.4 percent from 2023-2024, based on an oil price of $70 a barrel.