| Kuwait’s budget deficit in the first five months of the fiscal year stood at KD 1.094 billion ($3.62 billion) after a deduction for the Future Generations Fund, the finance ministry said yesterday in a statement carried by Kuwait News Agency. The deficit from Apr 1 to Aug 31 stood at KD 361.38 million before the 10 percent contribution of KD 733.50 million to the Future Generations Fund, part of Kuwait’s sovereign wealth fund, the statement said.
The finance ministry said actual expenditure amounted to KD 7.6 billion, an increase of KD 4.4 billion, according to the Central Bank’s monthly reports. The second half of this year will see more spending after paying contractors and importers’ dues, it added...............................................Full Article: Source
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