Monday, March 8, 2021

Kuwait expects parliament to cooperate on solutions to budget financing – FinMin

DUBAI- Kuwait said on Tuesday it was confident parliament would cooperate to find solutions and implement financial reforms to cover its deficit, the finance ministry said in a statement.

It said the oil-rich Gulf state expects a budget deficit of 55.4 billion Kuwaiti dinars ($183.29 billion) from fiscal year 2020/21 to fiscal year 2024/25, but that the country’s finances remained “strong” due to the Future Generations Fund, Kuwait’s largest state fund.

($1 = 0.3023 Kuwaiti dinars)

(Reporting by Yousef Saba, Maher Chmaytelli) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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