Kuwait – Mubasher: Oil revenues in September are estimated to reach KWD 1 billion, according to a recent report issued by AlShall Weekly Economic report.
In case production and prices continue at the current levels, Kuwait would achieve about KWD 12.3 billion in oil revenues for the entire fiscal year 2016, which is KWD 3.7 billion higher than the amount forecast for the entire current fiscal year budget at KWD 8.6 billion.
“Adding an amount of KWD 1.6 billion in non-oil revenues, projected budget total revenues would score KWD 13.9 billion for the entire current fiscal year,” according to a bourse statement.
AlShall expected Kuwait’s budget to post a deficit by KWD 5 billion in FY 2016/2017; however, this figure depends mainly on the average oil prices and production quantity in the remaining part of the current fiscal year.
