The “2022-2023” budget of Kuwait has witnessed the attainment of the first surplus in seven years, as confirmed by Osama Al-Zaid, the Rapporteur of the Parliamentary Budgets and Final Accounts Committee. Al-Zaid announced the surplus to be 6.4 billion dinars, which is a substantial increase from the recorded 2.7 billion dinars surplus in 2014, reported Al-Jarida Daily.
During a press statement following a committee meeting attended by Finance Minister Fahd Al-Jarallah, Al-Zaid disclosed that the “2022-2023” budget had achieved revenues amounting to 28.8 billion dinars, while expenses totaled 22.3 billion dinars. This surplus comes as welcome news for Kuwait, indicating positive economic growth and financial stability, creating a promising outlook for the nation’s fiscal future.
Moreover, during the meeting, discussions revolved around the possibility of abbreviating the duration required to present the general budget to the committee. Al-Zaid suggested reducing the timeframe from three months to two, implying that the budget should be submitted by December 31 rather than January 31.
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