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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Kuwait posts budget surplus of $28bn

Posted on 25 May 2010

From Arabnews.com: Kuwait swung to a budget surplus of 8.18 billion dinars ($28.21 billion) in the 2009/10 fiscal. The Gulf state invests 10 percent of its revenues in a fund for future generations, which is managed by the OPEC producer’s sovereign wealth fund. After the payment, the budget surplus amounted to 6.39 billion dinars, according to the data.
The world’s fourth-largest oil exporter and OPEC member is seen booking the largest fiscal surplus in the Gulf this year as oil prices stay well above its budget assumption of $43 a barrel……………………………………….Full Article: Source


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