Category
🗞
NewsTranscript
00:00 At the end of the first half of the fiscal year 2023-2024, the average price of a barrel of Kuwaiti oil is $84 per barrel.
00:11 Assuming the continuation of production and price rates without change until the end of the year,
00:16 Kuwait, according to a study by the Ashan Center for Economic Studies,
00:21 may end the year with a total oil revenues of about 20.6 billion dinars.
00:28 These revenues are actually 3.6 billion dinars more than the estimated oil revenues
00:34 that were included in the budget project after the price of a barrel of oil was estimated at about $70 per barrel.
00:41 In addition to the non-oil revenues, which amount to about 2.6 billion dinars,
00:48 the total revenues of the state in the current budget are 23.1 billion dinars.
00:55 These numbers, although they exceed expectations,
00:59 but according to the Ashan Center for Economic Studies,
01:02 will not be able to distance a budget deficit of 3.2 billion dinars,
01:07 based on the budget expenditures, which rose to 26.2 billion dinars,
01:15 thus becoming the largest budget in the history of Kuwait.
01:19 The Ministry of Finance has re-increased expenses by 12% to raise salaries and other expenses,
01:26 as well as the need to cover non-repeated expenses and the requirements for the expenses of the two oil,
01:33 electricity and water ministries, as well as the cost of buying citizens' permits
01:37 and the covering of the costs of the new residential areas.
01:40 Samar Rashid, CNBC, Kuwait