Kuwait Posts Record Budget Surplus for FY 2011-2012
The oil-rich state of Kuwait has posted a historical budget surplus of 13.2 billion Kuwaiti Dinars (US$ 47.5 billion) for fiscal year 2011 to 2012. The fiscal year ended March 31, 2012. Increases in the global price of oil, coupled with greater output contributed to the fiscal surplus. The price of a barrel of oil is a major factor in the probability of a fiscal surplus for Kuwait. [Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view site content.]
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