| 10.08.2016 - Kuwait posts budget deficit after 16 years of surplus |
| Lower oil prices have pushed Kuwait into a rare budget deficit, ending 16 straight years of surpluses for the energy-rich Gulf state, the finance minister said. In previous years, Kuwait built up a sovereign wealth fund worth around $600 billion that is invested mostly in the United States, Europe and Asia. Kuwait is projecting a deficit of $28.9 billion in the current fiscal year which began on 1 April...............................................Full Article: Source |