Kuwait 2024-25 draft budget sees $19.15 bln deficit -finance ministry

Kuwait's draft budget for 2024-2025 estimates a deficit of 5.892 billion dinars ($19.15 billion) and total revenues of 18.662 billion dinars, the finance ministry said in a statement on Tuesday.

The draft budget for the year from April 1 sees oil revenues at 16.234 billion dinars, down 5.4% from 2023-2024, based on an oil price of $70 a barrel, the ministry added. Expenditure is projected to fall by 6.6% to 24.555 billion dinars, the ministry also said.