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Kuwait's half-year budget surplus hits $17.5bn
- Kuwait: Tuesday, November 10 - 2009 at 10:19
Kuwait's finance ministry has reported a preliminary budget surplus of KD4.99bn ($17.5bn) in the first six months of the fiscal year through March 2010, thanks to larger than expected oil revenue, Bloomberg has reported. Government revenue fell 43% to KD8.22bn, while spending amounted to KD3.23bn, the ministry said. The government had forecast a budget deficit of KD4.8bn for the fiscal year, based on an oil price of $35 a barrel.
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StaffTuesday, November 10 - 2009 at 10:19 UAE local time (GMT+4)
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