Amid Lower Projected Revenues, Kuwait Deficit is Expected to Widen in 2020-2021 Budget

Posted on 01/15/2020


Kuwait’s Ministry of Finance is expecting a budget deficit of 9.2 billion KWD (US$ 30.33 billion) for the fiscal year starting on April 1, 2020 (fiscal year 2020/2021). This deficit calculation is after the Kuwaiti government deposited 10% of Kuwait’s oil revenue into the country’s sovereign wealth fund. Oil revenue makes up around 80% of […]