(MENAFN) Kuwait's government registered a budget surplus of USD20.86 billion during the April-June period of this year due to a delay in expenditure behind their plans, Arabian Business reported.
During the second quarter of this year, Kuwait's public expenditure reached USD5.87 billion, which below the USD19.92 billion the country was expected to make during this period, equivalent to 7.4 percent of the USD79.70 billion spending plan for the 2014/15 fiscal year set by the Kuwaiti government
Meanwhile, state revenue reached USD26.72 billion during the cited period, which is higher than the expected USD17.24 for the period, while oil income reached USD24.80 billion.
Kuwait has one of the strongest fiscal positions among the Gulf oil exporters, though its heavy dependence on oil income makes its economy more vulnerable in the face of declining prices of oil as well the decline in global demand for crude oil.
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