Kuwaiti Minister of Finance and Minister of State for Economic Affairs and Investment Anwar Al-Mudhaf revealed that the total cumulative fiscal deficit in the state budget of Kuwait during the last ten years reached 33 billion dinars. He expects the pace of the fiscal deficit in the public budget to continue over the next four years to reach 26 billion dinars.
Al-Mudhaf stressed that "Kuwait rich country, but if the pace of spending continues as it is without taking any reforms, the reserve will be resorted to to fill the budget deficit," noting that "the Council of Ministers approved the draft general budget for the next fiscal year 2024-2025. It was approved by the Council of Ministers with an estimated deficit of 5.6 billion dinars, where the budget recorded 18.9 billion dinars net revenues and 24.5 billion the value of expenses.
Source (CNBC Arabia Website, Edited)
