Kuwait approves budget with $40 bln deficit
Published 23 Jun,2021 via Asharq Alawsat (English Edition) - Kuwait’s National Assembly approved Tuesday the government budget for the fiscal year 2021-2022, despite a standoff between members of the parliament.
Speaker Marzouq al-Ghanim said that the budget was passed with a slim majority with 32 MPs out of 63, including 16 ministers in favor and one against, while 30 opposition lawmakers refused to vote.
The budget, proposed by the government in January, projected $76.65 billion in expenditure for the fiscal year that started on April 1, with revenues amounting to $36 billion and a deficit of $40 billion, reported the Kuwait News Agency (KUNA).
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Asharq Alawsat