Tag Archives: budget deficit

Parliament approves deficit budget – Assembly adjourns until October

KUWAIT CITY, June 8: Speaker of the National Assembly Marzouq Al-Ghanim confirmed Thursday the approval of the 2017/2018 State budget and the final accounts of ministries and government departments for fiscal 2015/2016. Al-Ghanim made the announcement after the closed door session turned public. Initially, the session was held behind closed …

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GMRP cuts cash for 1,652 Kuwaitis

KUWAIT CITY, May 31: The Government Manpower Restructuring Program (GMRP) has stopped the disbursement of labor support for 1,652 Kuwaiti male and female employees in May out of the 57,633 after ending their work permits in the private sector, who were paid KD 38.522 million, reports Al-Rai daily. The Secretary-General …

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MP warns Kuwait net borrower in 10-12 years; Pay … pain

KUWAIT CITY, Aug 28: Kuwait will become a ‘borrowing’ State in the next 10 or 12 years in case the government uses the general financial reserve to cover the budget deficit of KD 12 billion, says Chairman of the parliamentary Financial and Economic Affairs Committee MP Faisal Al-Shaye. According to …

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MP calls on govt to resign over failure to address budget deficit

KUWAIT CITY, Aug 25: MP Hamdan Al-Azmi has asked the government to resign for failing to address the budget deficit, putting additional financial burdens on the shoulders of citizens, and its inability to regulate the prices of commodities. In a press statement, Al-Azmi pointed out there are many measures other …

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Deficit ends 16 years of surplus – Shortfall totals KD 4.6bn

KUWAIT CITY, Aug 9, (AFP): 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. The OPEC member recorded a budget shortfall of 4.6 billion Kuwaiti dinars ($15.3 billion) in the fiscal year which …

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‘Sunday’s Assembly session to announce actual budget deficit’

KUWAIT CITY, June 30: Deputy Premier, Minister of Finance and acting Minister of Oil Anas Al-Saleh revealed the actual budget deficit will be announced in the parliamentary session slated for Sunday, clarifying that the reported deficit of about KD 9 billion is just an estimate. Speaking to reporters present at …

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MPs ‘finalize’ 12 reduced budgets

KUWAIT CITY, June 2: The parliamentary Budgets and Final Accounts Committee, in coordination with the Ministry of Finance, finalized the budgets of 12 independent government agencies after studying them thoroughly, says Committee Chairman MP Adnan AbdulSamad. Disclosing the total budget of these agencies has been reduced by KD 53 million, …

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Find realistic solution to issue of ‘budget deficit’ – Farwaniya to implement contracts

KUWAIT CITY, April 10: In the wake of opposition met by the proposals and draft laws presented to increase electricity and water tariff, some lawmakers have disclosed the importance of finding a realistic solution to the issue of deficit in the general budget and contribute to preserve consumption and expenditure, …

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State budget deficit at 64% … MPs mull solutions – Economic reforms key

KUWAIT CITY, Feb 7: The State budget deficit has reached 64 percent thus efforts at various levels must be exerted to remedy the Kuwaiti economy, a higher authority affirmed on Sunday. Nasser Al-Roudhan, Chairman of the Economic Development Committee at the Supreme Economic Planning Council, indicated in a statement at …

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‘Finance’ seeks appropriate solutions to budget deficit – MoE refutes rumors on fee hike by American schools

KUWAIT CITY, Dec 30: The Ministry of Finance is studying the possibility of reviewing 5,000 services to identify the cost and fees as a prelude to adding them to the plan to regulate expenditures, reports Al-Shahed daily quoting reliable sources. Sources disclosed the budget deficit reached KD 6 billion, while …

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