Kuwaiti deputies at the headquarters of the Kuwaiti National Assembly in Kuwait City.
Photographer: Yasser al-Zayyat/AFP/Getty Images
Fiona MacDonald
Kuwait’s National Assembly has tracked the state budget for the fiscal year that began April 1, forecasting the smallest deficit of OPEC members in nine years due to emerging oil prices.
After the budget amendments, expenditure was estimated at over 23. 53 billion dinars ($76 billion) in the 2022/23 fiscal year, while profits are projected at 23. 4 billion dinars. Oil profits, which account for more than 90% of state profits, are founded at $80 a barrel.