Kuwait Caps Government Spending at 24.5 Billion Dinars to Control Budget Growth

Kuwait's finance ministry announced a spending cap of 24.5 billion Kuwaiti dinars ($80.19 billion) for the 2027-2028 budget. This move aims to control budget growth as part of fiscal policy measures.

Kuwait's finance ministry declared on Sunday that government spending must be limited to 24.5 billion Kuwaiti dinars ($80.19 billion) in the 2027-2028 budget. The decision is part of a broader effort to control budget growth.

The ministry emphasized the need for fiscal discipline to ensure economic stability. By setting this spending limit, Kuwait aims to maintain a balanced budget and curb unnecessary expenditures.

The exchange rate at the time of the announcement was $1 equal to 0.3055 Kuwaiti dinars, providing a context for the budgetary figures.

(With inputs from agencies.)