|19 February, 2020

Kuwait posts $7.52bln deficit in period April 2019-January 2020

Kuwait previously said it expected a total deficit of $25.13bln in the 2019-2020 fiscal year

Panoramic view of Kuwait City skyline at down. Image used for illustrative purpose.

Panoramic view of Kuwait City skyline at down. Image used for illustrative purpose.

Getty Images/Emad Aljumah

DUBAI - Kuwait posted a deficit of 2.3 billion Kuwaiti dinars ($7.52 billion) in the period from April 1 to the end of January, after depositing 10% of revenue to its sovereign wealth fund, official data showed on Wednesday.

Kuwait previously said it expected a total deficit of 7.7 billion dinars in the 2019-2020 fiscal year, which ends in March.

The Finance Ministry said the data published on Wednesday was incomplete because of delays in the disclosure of spending by several government agencies.

($1 = 0.3059 Kuwaiti dinars)

(Reporting by Nayera Abdallah and Davide Barbuscia; Editing by Edmund Blair) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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