Kuwait projects KD 24.5 billion in expenses for next fiscal year

• Eng. Noura Sulaiman Al-Fassam praised the Ministry of Finance’s efforts in preparing Kuwait’s general budget for the fiscal year 2025/2026, considering the economic challenges and national needs that contribute to the country’s development and ensure financial sustainability.
Eng. Noura Sulaiman Al-Fassam, Minister of Finance and Minister of State for Economic Affairs and Investment, announced the key features of the draft law linking the budgets of ministries, government departments, and independent institutions for the fiscal year 2025/2026, which runs from April 1 this year, to March 31, 2026.
The draft laws were approved by the Council of Ministers during an extraordinary meeting on Sunday and are now set to be submitted to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, according to Q8-Press.
Al-Fassam praised the Ministry of Finance’s efforts in preparing the state’s general budget, considering the economic challenges and national needs that contribute to the country’s development and ensure financial sustainability.
Budget highlights
The State of Kuwait is projected to record a financial deficit of KD 6.3 billion, an increase of 11.9 percent. Non-oil revenues are expected to rise by nine percent, while salaries and subsidies will account for 79.5 percent of total expenditures. The average price of a barrel of oil in the budget is set at $68.
Total estimated revenue of KD 18.23 billion
Oil revenues are estimated at KD 15.30 billion, reflecting a decrease of 5.7 percent compared to the current budget, which ends on March 31, 2025.
Non-oil revenues are estimated at KD 2.92 billion, reflecting a nine percent increase from the current budgetand the price of oil is estimated at $68 per barrel for the year.
Estimated expenses: Kuwait’s total estimated expenses for the upcoming fiscal year are projected at KD 24.5 billion. Of this, 79.5 percent will be allocated for salaries and support, while 9.1 percent will be dedicated to capital expenditures. The remaining 11.4 percent will cover other expenses.
Fiscal deficit: Kuwait is estimated to record a fiscal deficit of KD 6.30 billion, an 11.9 percent increase from the current budget ending on March 31, 2025, with a breakeven price of $90.5 per barrel.