Kuwait – Mubasher: The actual deficit of Kuwait will likely score about KWD 4.7 billion; however, the deficit amount might be higher or lower depending on the prices of oil in the three remaining months of the current fiscal year according to a recent report issued by AlShall Consulting.
AlShall expected that, under all circumstances, the current fiscal year will continue with actual deficit, and continue for the second year in a row.
Meanwhile, the average price of Kuwait’s crude oil for most of December settled at $50 per barrel rising by above 20.6% or $8.5 per barrel in November when the average scored $41.5 per barrel, the report clarified.
“December 2015 price scored $31.1 per barrel and the past fiscal year 2015/2016 which ended by the end of March 2016 achieved average price for the Kuwaiti barrel of oil at $42.7. This means that the average price for December 2016 rose by 17.1% above last fiscal year and rose by 60.9% above December 2015 average,” the report said.
