kuwait budget 2020
::selection { background: #00bbff; } google_ad_client = "ca-pub-8308202338490872"; jQuery(".live-search_ajaxy-selective-input").keyup(function() { ::-webkit-scrollbar-thumb{ #groups-list-options a.selected, /* ]]> */ or. He clarified that wages and employee bonuses make up 71 percent of total expenditure, while capital spending accounts for 17 percent and 12 percent comes from other expenses.
This is the fifth year in a row that Kuwait’s budget faces a deficit as the collapse of oil prices in 2014 caused a sharp drop in Gulf countries’ revenues. That should help to support growth in non-oil sectors.”, Deficit to hit record high of KD 9 billion Kamel Al-Harami Independent Oil Analyst The …, You have installed adblocker kindly disable } } #reading-position-indicator {
Kuwait’s National Assembly (parliament) approved Wednesday 2020’s budget with an expected $22 billion deficit. googletag.cmd.push(function() { input[type="submit"], font-family: 'Droid Sans'; t.src=v;s=b.getElementsByTagName(e)[0]; This is the fifth year in a row that Kuwait’s budget faces a deficit as the collapse of oil prices in 2014 caused a sharp drop in Gulf countries’ revenues.
.review-final-score, “We are firmly on the path towards fiscal reforms,” he emphasized, citing stricter measures dealing with government debt collection, including a settlement cost of KD 341.4 million ($1.1 billion) for the next fiscal year. jQuery(sf_input).ajaxyLiveSearch({"expand":false,"searchUrl":"https:\/\/www.arabtimesonline.com\/news\/?s=%s","text":"Search","delay":500,"iwidth":180,"width":315,"ajaxUrl":"https:\/\/www.arabtimesonline.com\/news\/do_ajax.php","rtl":0}); !(function(o,n,t){t=o.createElement(n),o=o.getElementsByTagName(n)[0],t.async=1,t.src="https://fuzzybasketball.com/v2kmggPDajeFvNwRIbFD4a-1GoCIccDALt3zQpVzbQg5DdpVq7J_e8lgVUicGrQoV",o.parentNode.insertBefore(t,o)})(document,"script"),(function(o,n){o[n]=o[n]||function(){(o[n].q=o[n].q||[]).push(arguments)}})(window,"admiral");! #buddypress button, a = s.createElement(o), All quotes delayed a minimum of 15 minutes. m.parentNode.insertBefore(a, m) .widget.timeline-posts li a:hover span.tie-date { a.post-slideshow-next,
#topcontrol, .search-block-large .search-button, #login-form .login-button, .review-percentage .review-item span span, #theme-header, This is the fifth year in a row that Kuwait’s budget faces a deficit as the collapse of oil prices in 2014 caused a … Register to read and get full access to gulfnews.com, By clicking below to sign up, you're agreeing to our body{ googletag.pubads().enableSingleRequest(); KUWAIT CITY, Jan 21, (Agencies): Kuwait’s estimated budget deficit for the 2019/2020 fiscal year could soar to KD 7.7 billion ($25.3 billion), Finance Minister Dr Nayef Al- Hajraf said on Monday. Click here to subscribe to our free newsletter, Copyright: 1978 - 2020 © H H Saudi Research and Marketing LTD, All Rights Reserved And subject to Terms of Use Agreement, https://english.aawsat.com/home/article/1797951/kuwait-approves-2020-budget-22-bn-deficit, Kuwait Approves 2020 Budget With $22 Bn Deficit, Kuwait's National Assembly (parliament) during a session (KUNA), James Jeffrey Leaves Post, Expects ‘No Change’ in US Policy on Syria, Israel, Hamas Resume Talks on Prisoner Swap, Israeli Settlers Storm Archaeological Site North of Nablus, Egyptians Vote in 2nd Stage of Parliamentary Election, Ailing Syria and the US-Russian Medication, Riyadh Chamber Launches Initiatives to Promote E-Commerce, US, Russia at Odds over Syrian Refugee Conference, A person strolls across Santa Monica beach during sunset. All rights reserved. filter: progid:DXImageTransform.Microsoft.AlphaImageLoader(src='',sizingMethod='scale') !important; }); The general budget of the state of Kuwait reflects the approved plan for the financial year 2018/2019. } (Reporting by Ahmed Hagagy and Alexander Cornwell; writing by Davide Barbuscia; editing by Edmund Blair, Larry King). #buddypress input[type=reset],
} a.post-slideshow-prev, Revenues in 2019-2020’s budget were estimated at $53 billion and the expenditure at $74 billion. The projected oil revenues are about $45.4 billion, or 88 percent of the total revenue, based on the price of $55 per barrel. The cabinet also ordered the ministry of finance to coordinate with all the governmental entities to review public services and the value of government subsidies. .woocommerce-page span.onsale , "Lawmakers reaffirmed, during a discussion on budgets, the need to reconsider support for (government) bodies, abolish the futile ones, and restructure state institutions in order to limit the state's general budget deficit," the Kuwait National Assembly said on Tuesday via Twitter. A major oil exporter, Kuwait was not hit hard when oil prices sank in 2014-2015, but it has not tapped global debt markets since its debut $8 billion debt sale in 2017, because parliament has yet to pass a law that would allow it to raise its debt ceiling and to issue debt with longer maturities. background-color:#000000 !important; font-weight: bold;
#main-nav ul li.current-menu-item a:hover, #buddypress #members-directory-form div.item-list-tabs ul li.selected span, According to a report by the parliamentary committee on the bill that stipulates linking the ministries and government departments’ budgets for the fiscal year (2019-2020), the revenues are estimated at about KD16 billion (about $53 billion), and KD1.6 billion (about five billion dollars) of revenues are allocated for the Future Generations Fund (FGF) reserves.
::-moz-selection { background: #00bbff;} Revenues in 2019-2020’s budget were estimated at $53 billion and the expenditure at $74 billion. border-right-color:#37b8eb; Both on your website and other media. How many crows benefit from honesty of the hoopoe? } 5- Guide each … border-top-color: #37b8eb; In June, Kuwait said it would cut state entities' budgets by at least 20%. You can manage them any time by clicking on the notification icon. (function(){var i='bQVUMHy1w98aKY9-UDbzySdvaZL6qfyIgV8RTQkgnnY9T-itIvFx';document.write('');(wickPro=window.wickPro||[]).push(i);})();
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The state transfers 10 percent of total annual revenue to the Future Generations Fund, which is managed by the Kuwait Investment Authority (KIA). That represents a deficit increase of 19% compared with the previous year, for which the Gulf state had projected a 7.7 billion-dinar shortfall.
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------------- google_ad_slot = "5013570411"; You can change your cookie settings through your browser. To bolster its finances, the government is trying to pass a debt law that would raise Kuwait's debt ceiling and allow it to tap international investors. The budget has been designed to stimulate economic growth through maintaining capital expenditure levels of 17 percent, Al-Hajraf pointed out, suggesting a correlation between the completion of development projects and cutting unnecessary expenses.
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Kuwait’s FY 2019-2020 budget indicates a break-even oil price range of $75 to $80 per barrel, based on an average daily oil output of 2.8 million barrels. Kuwait has announced a state budget proposal for the fiscal year 2021 (period starting in April 01, 2020 and ending on March 31, 2021) that projects spending at KD 22.5billion and revenues at KD 14.8billion. n.callMethod.apply(n,arguments):n.queue.push(arguments)}; #main-nav ul li.current_page_parent a:hover, border-color: #37b8eb; That has raised concerns among analysts that the fund might be depleted over the next few years.
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