Wednesday, March 27, 2013

Kuwait surplus soars on high oil price: ministry


Kuwait posted a record provisional budget surplus of 17.2 billion dinars ($60.2 billion) in the first 10 months of the fiscal year on high oil price, government data showed on Wednesday.

The surplus up to the end of January was achieved on the back of a huge income of 27 billion dinars ($94.7 billion) and a low spending of 9.8 billion dinars ($34.4 billion), according to data on the ministry of finance website.

The 10-month revenues were up 11.6 percent on the same period of the last fiscal year and almost twice the budget projections for the whole year of 13.9 billion dinars ($48.9 billion), according to the figures.

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