Kuwait’s recorded budget in the month of August amounted to about KD 2.6 billion, excluding non-oil revenues, comprising the largest flows of oil sales since the beginning of the current fiscal year.
An Arab daily reported that the general budget recorded last month, a monthly surplus of approximately KD 600 million, after paying all the entitlements for this month, which amounted to approximately 1.9 billion, including traditional expenses of 1.6 billion, and in addition to 30 million directed to pay arrears for the last fiscal year.
Sources revealed that the volume of liquidity in the General Reserve Fund has recently reached about USD 9 billion, noting that after regular payment of arrears since the beginning of the year the remaining deficit for the last fiscal year is approximately 1.8 billion. It was also confirmed that the levels of liquidity are variable, not fixed but increasing and decreasing, according to the due payments and the flows of oil revenues. However, based on the numbers recorded, it is likely that the deficit achieved for the last fiscal year will be fully addressed according to the monthly payment scenario.
Sources also indicated that last August, KD 21 million of the local public debt were paid, while it is expected to pay 100 million due on September 14 to Kuwaiti banks, explaining that there are 48 million due in September, which are bonds and local tawarruq maturities, while the rest of the local debt entitlements until the end of the year. The current fiscal amounts to 125 million.
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