Home
Kuwait revenues drop significantly because of falling oil
9/19/15
Information / follow-up / ..
Official figures published on Thursday showed, declining public income of Kuwait by almost half during the first five months of the current fiscal year in light of falling oil prices.
Figures published by the Kuwaiti Ministry of Finance, which followed up / information / showed that "the proceeds of the oil-exporting state fell by 42.5% between the beginning of April and the end of August, reaching 7.3 billion dinars (about 24.2 billion dollars).
And decreased revenue from oil alone almost the same percentage, and amounted to 6.9 billion dinars (22.8 billion dollars), and oil still accounts for about 94% of the general income. Kuwait's budget forecast for the current fiscal year with a deficit of 7 billion dinars.
Kuwait, which pumps 2.8 million barrels of crude per day, has recorded a cumulative fiscal surpluses during the financial past 16 years.
The number of the citizens of Kuwait's 1.3 million people, with an estimated financial reserves by about $ 592 billion, which is invested abroad, especially in the United States.
Oil prices have lost 60% since June 2014 due to high supply in a strong dollar remained weak global economy and the impact on demand.
Kuwait has set the price of a barrel of oil in its budget to $ 45 compared to $ 75 in last year's budget.
It has already been raised Kuwait's financial support for Diesel Fuel aircraft beginning of the year 2015, which is considering easing the huge financial support allocated by electricity and gasoline.
[You must be registered and logged in to see this link.]
9/19/15
Information / follow-up / ..
Official figures published on Thursday showed, declining public income of Kuwait by almost half during the first five months of the current fiscal year in light of falling oil prices.
Figures published by the Kuwaiti Ministry of Finance, which followed up / information / showed that "the proceeds of the oil-exporting state fell by 42.5% between the beginning of April and the end of August, reaching 7.3 billion dinars (about 24.2 billion dollars).
And decreased revenue from oil alone almost the same percentage, and amounted to 6.9 billion dinars (22.8 billion dollars), and oil still accounts for about 94% of the general income. Kuwait's budget forecast for the current fiscal year with a deficit of 7 billion dinars.
Kuwait, which pumps 2.8 million barrels of crude per day, has recorded a cumulative fiscal surpluses during the financial past 16 years.
The number of the citizens of Kuwait's 1.3 million people, with an estimated financial reserves by about $ 592 billion, which is invested abroad, especially in the United States.
Oil prices have lost 60% since June 2014 due to high supply in a strong dollar remained weak global economy and the impact on demand.
Kuwait has set the price of a barrel of oil in its budget to $ 45 compared to $ 75 in last year's budget.
It has already been raised Kuwait's financial support for Diesel Fuel aircraft beginning of the year 2015, which is considering easing the huge financial support allocated by electricity and gasoline.
[You must be registered and logged in to see this link.]
