Kuwait budget surplus drops 15 percent

(MENAFN) The budget surplus in Kuwait narrowed in the first six months of the fiscal year as spending increased by 50 percent, Arab News reported. The surplus in the country came at USD37.9 billion in the period, registering a 15 percent drop over the same period last year. The International Monetary Fund has told the Kuwaiti government that it will need to invest in infrastructure projects and control public wage growth to strengthen the economy and maintain a healthy balance sheet.