(MENAFN) A Kuwaiti Minister has set a figure of about USD31 million as staff bonuses in spite of the looming national budget deficit this year, an official statement said, Arabian Business reported.
The budget deficit will be an unprecedented occurrence for the past two decades. The allocation was set for a number of 13,000 employees, according to the Minister of Public Works, Electricity and Water.
The payments are expected to be issued before Ramadan. The deficit will be primarily attributed to the recent decline in oil prices, which account for about 90 percent of export revenues.
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