2023-07-27 18:24:58
Kuwait City: Kuwait has shown strength in the financial sector. The Kuwaiti Ministry of Finance stated that there was a budget surplus of 6.4 billion dinars in the last financial year. In the 2022-2023 fiscal year, Kuwait’s revenue increased by 54.7 percent to reach 28.8 billion dinars.
This is the first time in nine years that such a feat has been achieved once more. Oil revenue accounts for 92.7 percent of the total revenue. The country’s oil revenue is 26.7 billion dinars. 64.7 percent increase in the income of the oil sector was recorded. However, the Ministry of Finance stated that non-oil revenue decreased by 12.8 percent to 2.1 billion dinars. Deputy Prime Minister Dr. Saad Al Barak said that the country continues to have large reserves and financial stability. Al Barak said that the government is ready to discuss the final figure with the legislative authority.
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