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Thursday , November 15 2018

Tag Archives: budget deficit

Government submits draft law on borrowing to cover deficit – MP renews impound queries

KUWAIT CITY, Nov 18: The government has submitted a draft law on obtaining loans from international and local financial institutions to address the State’s budget deficit, says Rapporteur of Financial and Economic Affairs Committee in the National Assembly MP Saleh Ashour. However, Ashour argued that there are alternatives for the …

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Reserves touched to offset budget deficit – ‘Law to raise loans in limbo’

KUWAIT CITY, Oct 18: Withdrawals from the public reserve fund are expected to increase this month and the coming months in order to cover the budget deficit, following the expiry of the law that allows the government to raise loans and with the wait for a new law to be …

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Kuwait budget in deficit

KUWAIT CITY, Oct 16: The country recorded a deficit of KD 1.94 billion in its general budget in the first half of fiscal 2017/2018, reports Al-Rai daily quoting the monthly financial report released by the Ministry of Finance. The ministry said the achieved deficit in the first half of the …

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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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