Kuwait posted a budget surplus of $23.84 billion in the financial year that ended March 31, on the back of high oil prices, according to official figures published over the weekend. The independent Al-Shall Economic Consultants said oil revenues reached $44.9bn, or 94.4 per cent of state earnings.
The 2005-2006 state budget, based on conservative oil prices, forecast spending of $24.7bn against revenues of $15.7bn, leaving a deficit of $9bn.
