A report issued by the Kuwaiti Ministry of Finance showed that the public budget deficit during the first eight months of the current fiscal year 2020-2021 reached about 4.778 billion dinars by the end of last November, that is, an increase of 598 percent compared to the same period of the previous fiscal year, as the deficit at that time reached 684.56 million dinars.
According to the Ministry of Finance, total capital spending from April to November lasted only about 21.3 percent of the budgeted estimate for the same period, 493.53 million dinars were spent, compared to 2.311 billion dinars estimated in the budget, a difference of 1.818 billion.
Total revenues amounted to about 6.16 billion dinars, or about 82.2 percent of the estimated budget of 7.5 billion, while expenditures amounted to about 8.538 billion. The obligation, which represents sums in the judgment of the disbursement that has not been accurately proven, due to the failure to complete the documentary cycle until the end of the reporting period, reached 2.4 billion dinars, this means that the total expenditures and commitment amounted to 10.94 billion dinars, which constituted only 50.8 percent of the total expenditures estimated in the budget for the same period. While the total running expenses amounted to 52.9 percent of the budgeted amount.
Source (Al-Raya Kuwaiti newspaper, Edited)
