The state budget recorded a deficit of KD5.396 billion dinars in the first nine months of the current fiscal year 2020/2021, exceeding four times, specifically by 435.3 percent of the rate achieved in the corresponding period of the last fiscal year, before deducting the share of the future generations fund, which has stopped being withheld in order to strengthen the budget, Al Rai daily reported.
According to the monthly follow-up report of the Ministry of Finance, the total revenues collected between April and December last year amounted to about KD6.906 billion dinars, which constituted 92.1 percent of the total estimated revenues in the budget for the same period, which totalled KD7.5 billion.
The oil revenues collected during the first nine months of the current fiscal year increased to KD5.864 billion dinars compared to KD5.628 billion, an estimated growth of 4.2 percent, while the non-oil revenues collected decreased to KD1.042 billion dinars, constituting 55.6 percent of the estimated non-oil revenues while during the same period it was KD 1.874 billion.
Regarding the details of non-oil revenues, revenues from taxes and other fees, reached KD337.34 million, which represents 57.5 percent of what is estimated in the budget of KD586.25 million, while revenues from social contributions during the same period amounted to KD56.53 million, or about 51.4 percent of the estimated amount of KD110 million.
The amount collected from the item of other revenues was about KD 647.84 million, compared to the estimated KD1.159 billion, which means that the sum of those revenues represented 55.9 percent of the estimated amount, while only 1.6 percent of what was estimated was collected from the revenues of disposing of assets and other income, and the sum during 9 months reached KD310.07 thousand compared to KD18.95 million estimated in the budget.
Expenditures
While the financial report confirmed that the expenditure data in its report do not accurately reflect the period’s expenditures, due to the delay of several government agencies in submitting the data on salaries and disbursements in the external offices of some government agencies, as well as some support expenses that are subject to accounting until the end of the period. The report numbers indicated the total disbursement and obligation on Chapter One – Compensation of Workers (salaries) amounted to KD4.25 billion during the period between April and December last year, compared to KD7.501 billion approved, which means that what was spent on this chapter amounts to 56.7 percent of what is approved.