Kuwait City: The Kuwait Ministry of Finance announced the draught budget bill for the upcoming fiscal year, which begins April 1, 2022 and ends March 31, 2023, on Monday. The budget anticipates KD 18.8 billion in revenue (+72.2 percent over the current year's budget), KD 21.9 billion in expenditure (-4.8 percent over the current year's budget), and a KD 3.1 billion shortfall (-74.2 percent vs the budgeted deficit for the current year ending on March 31st of KD 12.1 billion). "Next year's budget projects higher revenue levels, but we were keen to maintain our cap on expenditure at KD 22 billion while maintaining healthy capital expenditure that is in line with previous years," said H.E. Abdulwahab M. Al-Rasheed, Minister of Finance and Minister of State for Economics Affairs and Investments.
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