KUWAIT, Jan 30 (Reuters) - Kuwait’s government projects a budget deficit of 7.9 billion dinars ($25.9 billion) in the new fiscal year starting on April 1, finance minister Anas al-Saleh said on Monday.
That forecast is after a contribution of 10 percent of revenues to the sovereign wealth fund, and conservatively assumes an average oil price during the year of $45 a barrel, Saleh said in a briefing on the government’s economic plans. Brent crude oil is currently around $55 a barrel.
Spending is projected at 19.9 billion dinars next fiscal year and revenues at 13.3 billion dinars. (Reporting by Hadeel Al Sayegh; Writing by Andrew Torchia)