By: Ahmed Awad
Kuwait - Mubasher: The Kuwaiti minister of finance, Anas Khalid Al Saleh, said on Monday that public expenditure in the new 2017-2018 budget has increased by 5.3% to KWD 19.9 billion compared to KWD 18.9 billion in the current budget.
Al Saleh added that the estimated deficit in the new budget stands at KWD 7.9 billion, after transferring future generations’ reserve, and KWD 6.6 billion before.
The minister remarks were made in a press conference representing the government’s vision for the future (New Kuwait) and developmental plans until the year 2035.
Revenues total KWD 13.3 billion, while spending stands at KWD 19.9 billion, the minister indicated, noting that capital spends is estimated at around KWD 3.4 billion, while housing and education spending stands at KWD 1.5 billion.
The new budget valued oil prices at $45 per barrel, the minister added.
Translated by: Moslem Ali
