The Communications and Information Technology Regulatory Authority (CITRA) in Kuwait anticipates a 10% increase in total revenues for the fiscal year 2024/2025. This projection translates to an additional 11 million dinars, with total revenues expected to reach 121.5 million dinars by the end of March 2025, compared to 110.58 million dinars in the previous fiscal year’s budget.
Significant Growth in Licensing and Permit Fees
The rise in CITRA’s expected revenues is primarily driven by higher income from fees for issuing and renewing licenses and permits. The authority expects to collect 63.9 million dinars from these fees during the current fiscal year, marking a 1 million dinar increase from the 62.88 million dinars collected in the previous year.
Increase in International Internet Cable Revenues
Revenues from international circuits leased for Internet services via international submarine and land cables, as well as interconnection fees, are also expected to rise. CITRA projects an increase of 3.3 million dinars in this category, reaching 26.65 million dinars in 2024/2025, up from 23.34 million dinars in the prior fiscal year.
Rising Revenues from Fines and Other Sources
In addition to these gains, CITRA forecasts an increase in revenues from fines and penalties, which are expected to grow to 410,000 dinars in 2024/2025, compared to 240,000 dinars in 2023/2024. Other revenue streams are also on the rise, with a significant jump of 5 million dinars, bringing the total to 8.5 million dinars, up from 3.5 million dinars in the previous fiscal year.
Service Fees and Additional Income
Service fees and other income are projected to increase from 20.6 million dinars last year to 21.9 million dinars in the current fiscal year, further contributing to CITRA’s overall revenue growth.
