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Kuwaiti Finance Minister: We will not resort to withdraw from the financial reserve, whatever the circumstances
KUWAIT: The Minister of Finance of Kuwait, Anas Saleh, said his country will not resort to the withdrawal of financial reserves, especially of «Fund for Future Generations», even if the price of oil down to less than current levels, pointing out that there are many considerations in this good Alomr.oadhav in a telephone interview that he will not be drawing on the financial reserves of the country, pointing out that the Kuwaiti oil price has already fallen below the price estimated in the current 2014/2015 budget and the tie of $ 75. And arrived in Kuwait yesterday, the price of oil to $ 72.75 a barrel, according to the advertiser from KPC price - according to the news agency Alonadol-.
The breakeven price is the average price of a barrel of oil, which has achieved a balance between revenue and expenses in the Kuwaiti Almoisna.obulgt accumulated financial reserves of $ 548 billion, at the end of June last, after rising during the first half of the year 2014, about $ 15.7 billion, according to what I said the end of last month, a local newspaper.
invests Kuwaiti financial reserves, the funds belonging to the state: namely the General Reserve Fund, which reached its assets to $ 149 billion, and the fund for future generations, which had assets of $ 399 billion, according to the newspaper (Al-Qabas local) for report to the Audit Bureau. And manages the funds of the General Authority for Investment, a sovereign wealth fund as of Kuwait.
Kuwaiti authorities have not officially disclose the size of financial reserves that Kuwaiti minister Tmlkha.oaodh need the commitment of all parties Alrsama ministries and government directives adjusts spending for the remainder of the current fiscal year, which ends in April / April next, so that there will not be a consumer spending increases with the end of the year as happened in the past Alsabakh.orft Kuwait recently support for diesel and kerosene, and seeks to raise support for gasoline, electricity, water and other services. Kuwait's finance minister said that the financial rationalization policy will remain constant even if oil prices resumed their rise to $ 100 a barrel.
Produces Kuwait, a member of the Organization of Petroleum Exporting Countries (OPEC) 3 million barrels per day, two million Export million for local consumption, and has a tenth of the world's oil reserves, and achieved fiscal surpluses in the budget during the past 15 fiscal years, and the form of oil revenues 94% of total public revenue in Kuwait. The Kuwait deduct 10% of the revenues for the benefit of the sovereign fund, but it raised the percentage to 25% during the past two fiscal years. And live in Kuwait, 1.25 million citizens, in addition to 2.8 million foreigners.
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KUWAIT: The Minister of Finance of Kuwait, Anas Saleh, said his country will not resort to the withdrawal of financial reserves, especially of «Fund for Future Generations», even if the price of oil down to less than current levels, pointing out that there are many considerations in this good Alomr.oadhav in a telephone interview that he will not be drawing on the financial reserves of the country, pointing out that the Kuwaiti oil price has already fallen below the price estimated in the current 2014/2015 budget and the tie of $ 75. And arrived in Kuwait yesterday, the price of oil to $ 72.75 a barrel, according to the advertiser from KPC price - according to the news agency Alonadol-.
The breakeven price is the average price of a barrel of oil, which has achieved a balance between revenue and expenses in the Kuwaiti Almoisna.obulgt accumulated financial reserves of $ 548 billion, at the end of June last, after rising during the first half of the year 2014, about $ 15.7 billion, according to what I said the end of last month, a local newspaper.
invests Kuwaiti financial reserves, the funds belonging to the state: namely the General Reserve Fund, which reached its assets to $ 149 billion, and the fund for future generations, which had assets of $ 399 billion, according to the newspaper (Al-Qabas local) for report to the Audit Bureau. And manages the funds of the General Authority for Investment, a sovereign wealth fund as of Kuwait.
Kuwaiti authorities have not officially disclose the size of financial reserves that Kuwaiti minister Tmlkha.oaodh need the commitment of all parties Alrsama ministries and government directives adjusts spending for the remainder of the current fiscal year, which ends in April / April next, so that there will not be a consumer spending increases with the end of the year as happened in the past Alsabakh.orft Kuwait recently support for diesel and kerosene, and seeks to raise support for gasoline, electricity, water and other services. Kuwait's finance minister said that the financial rationalization policy will remain constant even if oil prices resumed their rise to $ 100 a barrel.
Produces Kuwait, a member of the Organization of Petroleum Exporting Countries (OPEC) 3 million barrels per day, two million Export million for local consumption, and has a tenth of the world's oil reserves, and achieved fiscal surpluses in the budget during the past 15 fiscal years, and the form of oil revenues 94% of total public revenue in Kuwait. The Kuwait deduct 10% of the revenues for the benefit of the sovereign fund, but it raised the percentage to 25% during the past two fiscal years. And live in Kuwait, 1.25 million citizens, in addition to 2.8 million foreigners.
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