Kuwait’s reveals budget surplus of $52 billion
Kuwait’s large budget surplus has been buoyed by strong oil revenues, which account for around 95 per cent of its revenue
Kuwait's Government budget surplus stood at KWD 14.7 billion ($52 billion) in the first eight months of its fiscal year.
The April-November surplus accounts for around 33.1 per cent of the OPEC member's 2011 gross domestic product, according to a Reuters calculation based on the latest official data.
Total revenue was KWD 21.6 billion while spending reached KWD 6.9 billion, according to data from the Gulf country's finance ministry cited by Reuters.
Kuwait's cabinet approved a revised budget for the current fiscal year in October.
- Calculating the true cost of regional strife
- Just BS? Why Israel's anti-BDS law can't really stop BDS internationally
- Malnourished economy: global hunger leading to $2 trillion loss in world GDP
- Going green: UAE looks to save Dh6.98b a year by 2030 with renewable energy
- Diversify and dump the slump in the GCC