The Kuwaiti Ministry of Finance announced that it had registered a budget deficit during the first three months of the fiscal year 2020/2021, amounting to one billion dinars.
According to Arabiya Net, total revenues amounted to 1.3 billion dinars, equivalent to (3.27 billion dollars), compared with expenditures amounted to 1.7 billion dinars and commitments amounted to about 733.3 million Dinars, noting that these liabilities represent amounts in the expense judgment that have not been recorded in the expense account because the documentary cycle has not been completed until the end of the reporting period.
Al-Maliya said in its latest statistic that the oil revenues of Kuwait during the first three months of the fiscal year amounted to 1.3 billion dinars, which represents 23.4% of the total oil revenues Estimated budget at 5.6 billion dinars, while non-oil revenues amounted to 52.6 million dinars, which represents only 2.8% of the total non-oil revenues estimated in the budget at 1.8 billion dinars.
The total expenditures in the state's general budget for the fiscal year 2020/2021 are about 19.2 billion dinars, and the budget assumes a fiscal deficit of 14 billion dinars.
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In addition, the statistic revealed a significant decline in capital spending during the period, which reached at the end of last June (the first 3 months of the fiscal year) only 2.7% of total The amounts allocated to him in the budget.
The statistical figures showed that the total capital expenditures during the period amounted to 61.7 million dinars out of 2.3 billion dinars allocated to them, which confirms the continued decline in capital spending against the high pace of current spending This has negatively affected the value of the anchor projects, and this is mainly due to the spread of the Corona pandemic in the country and Kuwait's resort to complete and partial closure of the economy, including the outbreak and spread of cases.
It should be noted that the data contained in this report do not accurately represent the period's expenses due to the delay of many government agencies in transferring data on salaries and disbursements at the external offices of some bodies Government, as well as some support expenses that are subject to being charged until the end of the period.
It is indicated that the total revenues during the month of April 2020 (the first month of the budget) amounted to 776 million dinars, while the expenses for the month amounted to 605.5 million dinars and the commitment amounted to 553.6 million dinars The budget achieved a deficit of 383.1 million dinars.
In May 2020, total revenues in two months of the fiscal year amounted to about one billion dinars, and expenses amounted to 1.24 billion dinars, and the amount ...
