(MENAFN - Kuwait News Agency (KUNA)) Kuwait is assumed to have achieved about KD 2.5 billion in oil revenues by April 2012, a specialized economic report forecast Saturday.
The report, by Al-Shall Economic Consultants, went on to say that "assuming production levels and prices would continue at the present levels -an assumption which is unrealistic on the price side at least- the value of potential oil revenues for the entire current fiscal year would score about KD 30 billion, which is higher by approximately KD 17.2 billion than the budget estimate."
It added that approximately KD 1.2 billion in non-oil revenues would make budget revenues for the current fiscal year reach approximately KD 31.2 billion. Comparing this figure with expenditures allocations in the amount of KD 22.6 billion, the result will be a hypothetical surplus in the budget by approximately KD 8.6 billion for the entire fiscal year 2012/2013.
With regard to the stock market, the report pointed out that the Kuwaiti market achieved weak performance during April, with a drop in all its key indicators, including the value of AlShall index, which dropped by 19.9 points, or 4.4%, compared to its position in the end of preceding March, and scored 435.5 points. The decline in AlShall index since the end of 2011 -4 months- was 14.7 points, or 3.3%.
Value of traded shares in twenty-two working days made about KD 780.3 million, i.e. US 2.82 billion, which is lower by 16.7% than its value in March.
The highest trading value in one day scored nearly KD 48.9 million on 18/04/2012 while the lowest scored about KD 18.2 million on 01/04/2012.
Daily average trading rate has fallen to about KD 35.5 million, or 20.5% below its level during March. Total volume of traded shares scored 8.7 billion shares, with daily average of about 397.2 million shares, a drop rate by 18.9% below March which achieved about 490.1 million shares.
Total number of concluded deals scored 104 thousand deals, a daily average of about 4.7 thousand deals, less by 20.8% than March level.
By the end of April, the market value of (204) common listed companies between the period ending December 31, 2011 and the end of April 2012 scored about KD 29.206 billion, up by 0.5%. (KD 29.071 billion in the end of 2011).
The number of companies with rising capital value was 110, capital value of 65 companies dropped, and capital value of 29 companies remained stable.