FUEL PRICES RISE, KUWAIT'S FISCAL DEFICIT FALLS TO MORE THAN 90 PER CENT

  • 04/03/2022

Kuwait City: Kuwait's fiscal deficit narrowed to more than 90 percent as oil prices hit a 10-year high. Oil prices rose to $ 113 a barrel. With this, things have come to a point where the gap between the revenue and expenditure of the country for the financial year 2021/2022 is being filled. Kuwait also received partial concessions under the OPEC + Agreement on Production Standards.


Kuwait's oil prices soared in yesterday's trade. According to the Kuwait Petroleum Corporation, the price rose by $ 10.65 a barrel to a one-year high of $ 112.96. According to figures from the Ministry of Finance, Kuwait's current budget requires up to $ 90 a barrel for oil. At current prices, the price of a barrel is more than $ 24 a barrel above the budget break even price, sources said.

Related News

MoI Cracks Down on Illegal U-Turns
  • 11/02/2025
Discounts Don't Affect Return/Exchange Rights
  • 08/02/2025
Kuwait Arrests Reckless Driver After Viral Wedding Video
  • 08/02/2025
Shifa Al Jazeera Medical Group to Host Shifa Excellence Awar ...
  • 08/02/2025
Kuwait Bans Water Pistols and Balloons
  • 07/02/2025
Kuwait Tops Global Hunger Index 2024 as Least Hungry Country
  • 04/02/2025
MoI: Implementation of new traffic fines on April 22
  • 04/02/2025
Kuwait Council of Ministers Holds Weekly Meeting at Bayan Pa ...
  • 04/02/2025
Kuwait population increases every 5 minutes
  • 03/02/2025
Kuwait Stabilizes Market Ahead of Ramadan
  • 29/01/2025
Kuwait Arrests Egyptian Expat for Forging Medical Documents
  • 29/01/2025
Kuwait Ministry of Education Cuts School Bag Weight by 50%
  • 27/01/2025