جولة دبي البانورامية بالحافلة في الإمارات العربية المتحدة

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The Kuwaiti cabinet submitted on Monday the country’s state budget for the 2023-2024 fiscal year to parliament, with an expected deficit of 6.8 billion Kuwaiti dinars (22.2 billion U.S. dollars). The total revenues are estimated at 18.8 billion dinars (61.3 billion dollars), while the total expenditures are estimated at 25.7 billion dinars (83.8 billion dollars), according to a statement by the Kuwaiti Ministry of Finance. The estimated deficit for the new budget marks an increase of 194.5 percent compared to the 2022-2023 fiscal year, while estimated revenues are expected to decrease by 5.3 percent and expenditures to increase by 9.7 percent. The average price of a barrel of oil in the 2023-2024 budget is estimated at 70 dollars. The cabinet said that the budget estimates for the new fiscal year reflect the government’s commitment to achieving financial and economic reforms. The cabinet also stressed the need to diversify sources of income and rationalize public spending by developing and implementing appropriate policies and procedures.