Kuwait – Mubasher: The liberation of fuel prices in Kuwait will save KWD 120 million, with the average oil prices unchanged at $40 a barrel, undersecretary assistance for general accounting affairs, Abdulghafar Al Awadhi said.
Kuwait’s budget will amount to nearly KWD 19 billion in the coming three years, while the budget deficit to June 2016 reached KWD 2.4 billion, Al Awadhi said in a press conference held Sunday.
Kuwait has liberated fuel prices at the beginning of August, with plans for increasing them by 60% in early September.
He noted that local bonds has currently reached KWD 1 billion.
The average of oil prices in last year’s budget stood at $41.59 per barrel, he said.
