Kuwait’s budget during August recorded the largest flows of oil sales since the beginning of the current fiscal year, amounting to about 2.6 billion dinars, excluding non-oil revenues.

Informed sources told a local Arabic daily that the general budget during August recorded a monthly surplus of approximately 600 million dinars, after paying all the entitlements for this month of approximately 1.9 billion, including traditional expenses of 1.6 billion, in addition to 30 million payments of arrears of the last fiscal year.

The sources revealed that the volume of liquidity in the General Reserve Fund has reached about $9 billion, noting that after regular payment of arrears since the beginning of the year, the remaining deficit for the last fiscal year is about 1.8 billion.

The sources confirmed that the levels of liquidity fluctuate, according to the due payments and the flows of oil revenues. However, according to the numbers recorded since the beginning of the current fiscal year, it is likely that the deficit achieved for the last fiscal year will be fully addressed according to the monthly payment scenario.

The sources indicated that during August, 21 million dinars in local public debt was paid, and was expected to pay 100 million which was, September 14, to Kuwaiti banks, explaining that 48 million are due to be paid in September in bonds and local tawarruq maturities, while the rest of the local debt entitlements until the end of current fiscal is 125 million dinars.

Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait