The official figures issued by the Kuwaiti Ministry of Finance showed that the public budget deficit doubled by 1,500 percent in just one month. Adding that the budget recorded a deficit of 818 million dinars ($2.7 billion) in the five months ending on August 31, compared to a deficit of 49.9 million dinars ($165.8 million) at the end of the previous July.
According to the data, the increase in the deficit by this percentage during only one month is mainly due to the increase in the total expenses and obligations of the state by more than 45 percent, or by a value of 2.36 billion dinars, to reach 7.57 billion dinars, compared to 5.2 billion dinars in expenses and obligations at the end of last July.
The increase in revenues came in a value less than expenses, as it recorded an increase of 31 percent, or 1.596 billion dinars, bringing the total revenues at the end of August to about 6.756 billion dinars, compared to 5.16 billion dinars at the end of July. The total revenues of the general budget at the end of last August amounted to 6.75 billion dinars, which constitutes about 62 percent of the total revenues estimated in the budget for the whole year at 10.9 billion dinars.
Source (Al-Arabiya.net Website, Edited)
