KUWAIT HAS A FISCAL DEFICIT OF KD 3.0 BILLION

  • 21/11/2022

Kuwait City: The Kuwait Ministry of Finance announced the closing accounts for the fiscal year ending March 31, 2022 on Sunday. The State's accounts showed revenue of KD18.6 billion, expenditure of KD21.6 billion, and a fiscal deficit of KD 3.0 billion. The fiscal year of the State of Kuwait begins on April 1st and ends on March 31st. (By law, the Closing Accounts do not include revenue from the Kuwait Sovereign Wealth Fund (FGF), which is managed by the Kuwait Investment Authority. 


All investment revenue generated by FGF activities is reinvested in the FGF, as required by its governing law.) "Naturally, the rebounding oil price in the second half of the fiscal year helped shore up Kuwait's revenue," said Kuwait Minister of Finance H.E. Mr. Abdulwahab M. Al-Rasheed. Kuwait has one of the world's strongest sovereign balance sheets, with one of the lowest sovereign debt-to-GDP ratios and a strong rebounding economy."

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