Economic sources in the State of Kuwait predict the 2002 budget to reflect a two billion Kuwaiti dinar (six billion dollar) deficit if oil prices continue on their downward trend, reported Al-Bayan.
Ahmed Duaeej, head of the Economic and Financial Parliamentary Committee, anticipated a substantial revenue discrepancy in the fiscal year 2001/2002, due to the declining oil prices. Spending is expected to exceed projected revenues, which are divided into KD 3.263 billion oil revenues and KD 568 million non-oil revenues. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
