The State of Kuwait achieved a surplus in the first nine months of its annual budget, which starts on April 1, after being in struggle with deficit in recent years.
According to figures released by the Ministry of Finance, the surplus amounted to 3.6 billion dinars (about 11 billion dollars) from April to December 2018. This surplus comes before deduction of 10% of revenues for the reserve fund for future generations, thus, the budget surplus stands at 2 billion dinars, or about 6 billion dollars.
These figures came as a result of the rise in oil prices in the middle of last year, as Kuwait gives greater flexibility to not withdraw funds from the state's general reserve after the parliament suspended the international borrowing law, forcing the government to cover its deficit from the reserves.
The budget revenues during the mentioned period amounted to about 15.7 billion dinars, while expenditures amounted to about 10 billion dinars.
Source: (Al-Arabiya.net, Edited)
