KMF Today Announced The Governments Budget For The Fiscal Year 2018 And 2019
Category: Kuwait
Immigrate to Canada or Australia
Study In Abroad

The Kuwait Ministry of Finance today announced the government’s proposed budget for the fiscal year 2018/2019. The budget sets the government’s fiscal and economic priority for the coming year and is effective  once approved by the Kuwait National Assembly. The State of Kuwait’s fiscal year starts on April 1 and ends on March 31.

2018/2019 Budget Highlights
■ Oil revenue , which comprises 89 percent of this budget’s revenue, is projected to grow to KD 13.3 billion, reflecting an increase of 13.7 percent from 2017/2018’s budget.

■ Non-oil revenue, which comprises 11 percent of this budget revenue, is projected to grow to KD 1.77 billion, refl ecting success of fiscal and collection reforms implemented since 2016.

■ Assumed price of oil: $50


■ Total expenditures are capped at KD 20 billion in compliance with maintaining a ceiling of KD 20 billion or below for every budget until 2021. The ceiling was set by the Cabinet and has been met for the fourth year in-a-row.

■ Capital Expenditures set at a healthy share of 18 percent of total expenditures, with Construction budget increased by 14.7 percent year-on-year.

Fiscal Balance

■ The budget forecasts a post FGF deficit of KD 6.5 billion, an improvement of 18 percent from last year’s budget.


The Kuwait Minister of Finance HE Dr Nayef Al Hajraf said: “This is a reform budget and an expansionary budget at the same time. It is good for reform and good for the economy.

Total expenditures have been capped at KD 20 billion (up only 0.5 percent from last year’s KD 19.9 billion), while including a budgeted spending in industrial capital expenditures of KD 2.9 billion (up 14.7 percent from last year).

“The country is currently instituting a structural fiscal and economic reform program, and control of expenditures is a necessary precondition for these reforms to succeed over time. Yes, the global economic outlook is improving, and the price of oil is rebounding, however that should not and will not steer us away from our path for reform.

In fact, it makes our resolve for reform grow even stronger. “We believe that reform starts with curbing spending, while maintaining a healthy rate of capital expenditures on infrastructure and minimizing the impact of our fiscal reforms on citizens.
“Kuwait is in a unique financial position that enables us to introduce reform gradually, and in a controlled and responsible manner within a legislative and public environment that encourages a lively debate of the issues and the opportunities.”


30 Jan, 2018 0 530
Posted Comments
Popular News
Delivering Child In Kuwait – Salary Below 500 KD I am working in a private airline company in Kuwait as Flight attendant/ Cabin steward and my basic salary is KD 300, my wife expected delivery is in 2020 of January next year, is it possible for me t... November 18, 2019 3 15806 Category: Legal
1 Month Visit Visa Issued On Kuwait Airport On Arrival – How To Extend The Stay To 3 Months? I am writing to obtain some guidance on a visa issue. I have a UK passport and am currently in Kuwait visiting my husband, who is a resident here and working as a teacher. I understood I could receiv... November 17, 2019 1 4578 Category: Visit Visa
3.4-magnitude Earthquake In North Of Kuwait A 3.4-magnitude earthquake was recorded on Friday night in the northern region of Rawdatain, reports Kuwaiti National Seismic Network. Dr. Abdullah Al-Enezi, at the Kuwait Institute for Scientific Re... November 16, 2019 1 3667 Category: Kuwait
Can Wife Sponsor Husband Visit Visa And Transfer It To Dependent Visa?   With reference to the subject article published in your newspaper I would like to seek your humble an... November 15, 2019 2 3382 Category: Visit Visa
Online Service For Renewal Of Driving License from today General Traffic Department affiliated to Ministry of Interior will today launch an online service for the renewal of driving licenses, reports Al-Seyassah daily. Those seeking to renew their licens... November 17, 2019 0 3344 Category: Driving License
How To Renew Driving License Online In Kuwait ?  Those seeking to renew their licenses can visit the website of Ministry of Interior where they have to carry out the necessary procedures. After they complete the procedures, they will be able t... November 18, 2019 1 2226 Category: Driving License
Egg Crisis Lingers – Some Countries Prevent The Import Of Kuwaiti Eggs For Certain Reasons Agricultural expert Muhammad Al-Fareeh stressed the need for Ministry of Commerce and Industry to intervene in putting an end to the losses that local egg farmers and national egg companies suffer, re... November 15, 2019 0 1488 Category: Kuwait
Indian Drowned To Death At Kuwait Beach Indian national drowned to death while saving friend’s kids from drowning. In a tragic incident, Sanil Joseph, hails from Kannur, Kerala drowned to death at Kuwait beach. He was spending the ... November 16, 2019 1 1336 Category: Crime News
Visit Visa Transfer Into Residency Visa – Is It True? I am an Indian and my salary is more than KD 1,500 per month. I would like to bring my wife 2nd time on visit visa and once she arrives in Kuwait then I would like to convert her visit visa into resid... November 17, 2019 0 1159 Category: Visit Visa
Prominent Kuwaiti Businessman Nasser Mohammed Nasser Al-Sayer Passed Away Leading Kuwaiti businessman Nasser Mohammed Nasser Al-Sayer passed away today (Thursday, 14 November 2019) at the age of 90 years. Mr Al-Sayer was founder and chairman of Al-Sayer Group of Companie... November 14, 2019 0 1114 Category: Information
View All
Popular Offers
850-fils-and-1kd-offers in kuwait
850 Fils And 1kd Off...
the-sultan-center-great-promotions in kuwait
The Sultan Center Gr...
big-7-days-at-nesto-hypermarket in kuwait
Big 7 Days Offers At...
lulu-hypermarket-offers in kuwait
Lulu Hypermarket Off...
grand-hyper-offers- in kuwait
Grand Hyper Offers
Popular Events
14 Nov, 2019
Category : Food & Drink
23 Nov, 2019
Category : Sports & Fitness
16 Nov, 2019
Category : Entertainment
29 Nov, 2019
Category : Other
03 Jan, 2020
Category : Other
Visit Visa
Visit Visa
Dependent Visa Driving License
Driving License
Project Visa Termination
Civil ID Crime News