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Friday , November 16 2018

Tag Archives: budget deficit

MoF announces budget surplus of KD 1.29 billion in April & May

KUWAIT CITY, Oct 11: Ministry of Finance announced a budget surplus of KD 1.29 billion in April and May, reports Al-Rai daily. The surplus prior to the deduction of ten percent for the future generations fund is KD 1.61 billion ($ 5.4 billion) during the two months prior to the …

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‘Govt should not borrow to finance budget deficit’

KUWAIT CITY, Aug 8: The State Audit Bureau recommends that the government should not borrow for financing the budget deficit, and should instead opt for capital projects, provided it develops a longterm strategy to deal with the risk of increasing public debt, reports Al- Qabas daily. In a report concerning …

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Non-oil revenue up 21.7% – Kuwait releases closing accounts

TOTAL EXPENDITURE DIPS 3.3% … FISCAL DEFICIT DOWN 18.1% KUWAIT CITY, July 28: The Kuwait Ministry of Finance Saturday announced the State of Kuwait’s closing accounts for the fiscal year ending March 31, 2018. The State’s accounts recorded KD 16.0 billion in revenue, KD 19.2 billion in expenditure, and closed …

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Local market stagnant for nearly four years – ‘Review reasons that prevent expats from owning property’

KUWAIT CITY, July 4: The Mudon Ahlia Real Estate Company has urged the real estate sector in Kuwait to review the reasons that prevented the effective implementation of the decision of the Council of Ministers to allow foreigners to own the property, after it was issued about 4 years. The …

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PAM no longer dependent on state budget, says Al-Shihab

Almost 98 pc of people in Kuwait use Internet KUWAIT CITY, Feb 1: Revenues of the Public Authority for Manpower (PAM) in the 2017/2018 fiscal year exceeded KD 54 million, reports Al-Rai daily. In a press release, the Vice-Director for Human Resources and Financial Affairs at the authority Eng Khuloud …

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Income diversification, deficit key challenges in ’18

KUWAIT CITY, Jan 30, (KUNA): Kuwait government has been carrying out a multi-faceted plan for four years now to address budget deficit and diversifying national income, against the backdrop of low oil prices. Drop in oil prices since mid-2014 created a critical economic and financial reality, which aroused serious questions …

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KD 20b spending cap in ’18/’19 budget – ‘Kuwait reform budget also expansionary’

KUWAIT CITY, Jan 29: The Kuwait Ministry of Finance today announced the government’s proposed budget for the fiscal year 2018/2019. The budget sets the government’s fiscal and economic priority for the coming year and is effective  once approved by the Kuwait National Assembly. The State of Kuwait’s fiscal year starts on …

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MP VOICES CONCERN ON DECLINE IN CREDIT RATING

Panel nod on draft to borrow KD 25bn  – Proposal to raise financial assistance to private sector workers rejected KUWAIT CITY, Jan 7: The parliamentary Finance and Economic Affairs Committee approved Sunday the government’s draft law on borrowing KD 25 billion from domestic and international markets, says Committee Chairman MP …

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‘Govt warned against controlling the country’s economic sectors’

Deficit reaches almost KD 6b due to fall in oil prices KUWAIT CITY, Jan 7: The State Audit Bureau has warned the government against controlling the economic sectors of the country, especially since it weakens the private sector. It urged the government to bear the responsibility and tackle the shortcomings …

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‘Budget allocated for Ministry of Education in fiscal ’18/19 not enough’ – ‘Salaries consume major part’

KUWAIT CITY, Dec 10: Ministry of Finance has allotted budget of KD 2.2 billion (about $ 7.2 billion) to the Ministry of Education for fiscal year 2018/2019, says acting Assistant Undersecretary for Financial Affairs in the Ministry of Education Yusuf Al-Najjar, reports Al- Rai daily. Al-Najjar explained the allocation is …

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