Kuwait’s budget surplus reaches 150.4 million dinars in first half
The main reason for achieving this surplus was increase in revenues by 15.66% to 10.12 billion dinars in the first six months of the current fiscal year, compared to 8.75 billion dinars in the first half of the previous fiscal year.
Kuwait recorded a surplus in the period from the beginning of April until the end of last September, amounting to 150.39 million dinars ($491.93 million), compared to a deficit of 1.45 billion dinars for the corresponding period of the last fiscal year, so that the budget turned into a surplus in the first 6 months of the fiscal year 2024-2025, supported by an increase in revenues and a decrease in expenditures.
According to the monthly report of the Ministry of Finance, the main reason for achieving the surplus was the increase in revenues by 15.66 percent, to 10.12 billion dinars in the first six months of the current fiscal year, compared to 8.75 billion dinars in the first half of the previous fiscal year as the collected revenues represented 53.6 percent of the estimated achievement in the fiscal year 2024-2025.
This amounted to 18.92 billion dinars, and the point revenues amounted to 8.88 billion dinars, which constituted about 54.7 percent of the exported amount, which amounted to 16.23 billion dinars, and 87.75 percent of the total achieved in the six months.
Non-oil revenues amounted to 1.23 billion dinars, taxes and fees amounted to about 282.6 million dinars, social contributions amounted to about 42.7 million dinars, revenues from goods, services and other revenues amounted to 907.9 million dinars, and revenues from asset disposal and non-operating revenues amounted to about 3 million dinars.
Total expenditures and commitments for the first 6 months represented 40.6 percent, at KWD 9.97 billion, out of the total estimated expenditures of KWD 24.56 billion, with expenditures amounting to KWD 8.52 billion and commitments amounting to KWD 1.45 billion.
The volume of expenditures and commitments in the first six months of the current fiscal year was 2.35 percent less than what was spent in the previous year, which amounted to KWD 10.21 billion.
