Country Recorded A Deficit Of KD 1.94 Billion In Its Budget
Category: Kuwait
country-recorded-a-deficit-of-kd-1.94-billion-in-its-budget_kuwait
Immigrate to Canada or Australia
Study In Abroad

The country recorded a deficit of KD 1.94 billion in its general budget in the first half of fiscal 2017/2018, reports Al-Rai daily quoting the monthly financial report released by the Ministry of Finance.

The ministry said the achieved deficit in the first half of the financial year constitutes 25 percent of KD 7.9 billion — the total planned deficit for the whole year. The total revenue amounted to KD 7.03 billion; including KD 228.07 million taxes and charges, KD 13.59 million social contributions to the economy and KD 384.94 million other revenue items; while the government expenditure amounted to KD 6.75 billion within the same period. Also, the country achieved 54.4 percent of the estimated oil revenue for the first half of the current fiscal year — KD 11.71 billion.

The deficit is the difference between total expenditure and total revenue, excluding financial settlements between the Finance Ministry and government bodies; therefore, this figure could decrease after such settlements. According to OPEC data, Kuwait’s oil production reduced by 1,700 barrels per day in September; reaching daily production of 2.7 million barrels per day.

;

In addition, a source disclosed that Finance Minister Anas Al-Saleh previously estimated the deficit for the current fiscal year to reach KD 7.9 billion after deducting the amount allocated for the Future Generations Fund.

The source quoted Al-Saleh as saying that the total revenue is estimated at KD 13.3 billion and the expenditure at KD 19.9 billion. It is worth mentioning that Kuwait recorded budget deficit in 2015/2016 for the first time in 16 years — about KD 5.9 billion, amid the drastic drop of global oil prices which affected the oil revenue of the country.

SOURCE : ARABTIMES

17 Oct, 2017 0 461
Posted Comments
Popular News
moving-out-of-country-without-paying-bank-loan_kuwait
Moving Out Of Country Without Paying Bank Loan I am requesting an expert opinion on the following matter. I am working in a private company and this is my second company where I had completed almost six years. Currently my residence is on my co... October 19, 2019 0 14260 Category: Legal
age-restrictions-for-visit-visa-of-parents_kuwait
Age Restrictions For Visit Visa Of Parents I am working in KNPC Kuwait, my salary is KD 1050 per month, my father’s birth-date is Dec 26, 1953 and mother’s birth-date is May 9, 1961. I want to apply for a visit visa for them. How m... October 20, 2019 0 6720 Category: Visit Visa
unpaid-fines-stop-people-leaving-country-including-kuwaitis_kuwait
Unpaid Fines Stop People Leaving Country Including Kuwaitis The traffic director of the Eastern Province in Saudi Arabia, Colonel Engineer Ali Al- Zahrani, has announced all vehicles bearing Gulf plate numbers (including Kuwaiti) will not be allowed to exit th... October 17, 2019 0 1504 Category: Kuwait
new-comer-to-kuwait-want-to-resign-before-3-years-of-service_kuwait
New Comer To Kuwait Want To Resign Before 3 Years Of Service I have spent 6 months with my employer. If I want to resign I will give 3 months notice period so it will be nine months. After that do I still have to pay 3 months salary and amount of money spent on... October 17, 2019 0 1034 Category: Legal
no-dependent-visa-for-parents-under-article-22_kuwait
No More Dependent Visa ( Visa 22) for Expats Patents The General Department of Residence Affairs has issued a decision according to which the children can no longer sponsor their parents to reside in the country but they can sponsor them for visit, repo... October 21, 2019 0 1023 Category: Kuwait
medical-test-reports-directly-sent-to-immigration-department_kuwait
Medical Test Reports Directly Sent To Immigration Department My wife did medical test yesterday in Um Al-Haymen and blood test at Fahaheel. How do I check the medical report after completing blood and x-ray tests? How do I know whether my wife is fit or unfit? ... October 18, 2019 0 1014 Category: Legal
moh-announced-that-a-fee-of-two-dinars-will-be-charged-for-private-sick-leaves_kuwait
MOH Announced That A Fee Of Two Dinars Will Be Charged For ‘private’ Sick Leaves Ministry of Health announced that a fee of two dinars will be charged before its Medical Licenses Department endorses sick leaves issued by the private medical establishments, reports Al-Jarida daily.... October 18, 2019 0 767 Category: Kuwait
new-kuwait-airport-passenger-terminal-on-track_kuwait
New Kuwait Airport Passenger Terminal On Track Work on the new passenger terminal at Kuwait International Airport is on track. The T2 terminal project has so far reached 21.3 per cent, said Minister of Public Works Jenan Bushehri. “A tota... October 20, 2019 0 761 Category: Kuwait
citizens-surprised-by-new-procedures-for-domestic-workers_kuwait
Citizens Surprised By New Procedures For Domestic Workers The service centers have asked Kuwaitis who stamp new residence permits for their domestic workers or renew residence permits for certain communities who leave Kuwait and return, to translate the crim... October 17, 2019 0 539 Category: Kuwait
four-egyptians-stabbed-by-an-unknown-person_kuwait
Four Egyptians Stabbed By An Unknown Person An investigator from the Farwaniya Police Station visited the Farwaniya Hospital to hear the testimony from four Egyptians who were stabbed by an unknown person, reports Al-Anba daily. During inter... October 20, 2019 0 538 Category: Crime News
View All
Popular Offers
carrefour-part-3-anniversary-offers in kuwait
Carrefour Part 3 Ann...
grand-hyper-amazing-one-day-promotion in kuwait
Grand Hyper Amazing ...
crazy-figures-are-back in kuwait
Crazy Figures Are Ba...
lulu-hypermarket-offers in kuwait
Lulu Hypermarket Off...
costo-supermarket-maga-promotions in kuwait
Costo Supermarket Ma...
Popular Events
08 Nov, 2019
0
119
Category : Food & Drink
30 Oct, 2019
0
98
Category : Food & Drink
17 Oct, 2019
0
85
Category : Workshop
31 Oct, 2019
0
82
Category : Food & Drink
08 Nov, 2019
0
78
Category : Entertainment
Kuwait Local News
Kuwait News
Crime News New Rules Entertainment
Entertainment