> The Banquer magazine said a whole year had spent on deteriorating oil markets, noting that April 2020 saw the beginning of fiscal year 2021/2020 in Kuwait, which concerted In conflicting to a major collapse in government revenues, where prices led to the closure of the global economy following Corona's pandemic, to fall oil prices responsible for 80% of government revenues in Kuwait, to a 17-year low.
Kuwait is scheduled to start its new financial year 2021/2022 on April 1, with severe shocks that have been exposed to and demand for oil in the previous year , At least right now.
Kuwait was one of the most famous supporters of the OPEC's agreement since he was reached in late 2016, a position that is unlikely to change anytime. p>
The Ministry of Oil said in a statement earlier March. Kuwait plays an effective role in promoting coordination between producing countries and supporting understanding to ensure the success of this historic agreement took place in markets Oil ahead of the latest meetings (OPEC +).
"The growth of oil revenues since November has been placed as Sarah News for the Kuwaiti Public Budget, having forced the low prices in the first half of 2020 to reduce spending and rely on Kuwait's budget for 2021/2022 on average oil price is $ 45 for the year, with an 90 tie price, according to SP Global Platts.
