Kuwait approves deficit budget for sixth year – Saudi Gazette

Kuwait approves deficit budget for sixth year – Saudi Gazette

The Gulf state whose revenues heavily rely on oil prices projected a shortfall of $25.3 billion for the fiscal year starting in April, up 15 percent on the current year, Mariam Al-Aqeel said.. "The budget deficit is the result of a drop in oil production and prices," the minister told a press conference in Kuwait City.. US Treasury removes currency manipulator label on China. US, Japan, EU seek new global rules limiting subsidies.