Kuwait's budget is projected to show a deficit of 5.6 billion dinars ($18.33 billion) for the 2024-2025 fiscal year, with expenses estimated at 24.5 billion dinars and revenues at 18.9 billion dinars, the Ministry of Finance announced on Sunday.
Kuwait City © Mena Today
Kuwait's budget is projected to show a deficit of 5.6 billion dinars ($18.33 billion) for the 2024-2025 fiscal year, with expenses estimated at 24.5 billion dinars and revenues at 18.9 billion dinars, the Ministry of Finance announced on Sunday.
Government spending must be fixed at 24.5 billion Kuwaiti dinars in the 2027-2028 budget to control budget growth, it added.
The liquidity of the General Reserve Fund, from which the budget deficit is financed, decreased to 2 billion dinars last March from 33.6 billion ten years ago due to increasing withdrawals, the Ministry of Finance said.
Reporting by Ahmed Hagagy
Reporting by Ahmed Hagagy
The commander of Iran's elite Revolutionary Guards warned Israel on Thursday against attacking the Islamic Republic in retaliation for a missile barrage as the Israeli military stepped up its offensive in Lebanon against Tehran-backed Hezbollah.
A German warship operating as part of the United Nations' UNIFIL mission brought down an unmanned flying object off the coast of Lebanon on Thursday, a spokesperson for the German defence ministry told Reuters.
Israel has a right to target Iran-backed militant group Hezbollah even as it may be hiding in civilian buildings in Lebanon, but should do so in a way that protects civilians, State Department spokesperson Matthew Miller said on Wednesday.
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