Mubasher: Kuwait’s oil revenues rose 50.9% year-on-year during the first seven months of fiscal year 2018/2019, the finance ministry said.
Oil revenues recorded KWD 11.36 billion ($37.41 billion) during the seven-month period ended in October, versus KWD 24.79 billion ($24.79) billion in the year-ago period, according to the ministry's monthly report.
Kuwait’s fiscal year begins in April and ends on 31 March.
The seven-month oil revenues represent 85.3% of KWD 13.32 billion expected to be generated from oil in FY 18/19.
Generally, oil accounted for 93.7% of the GCC country’s total revenues in the 7-month period, totaling KWD 12.13 billion.
Alongside oil, Kuwait’s revenues from April to October from non-oil sources reached KWD 766.34 million, as well as KWD 293.12 million from taxes and levies, KWD 437.92 million from other revenues, and KWD 3.73 million from asset disposal, the ministry said.
