(MENAFN - Kuwait News Agency (KUNA)) State budget posted actual surplus of KD 13.3 billion in the end of last February, the 11th month of the fiscal year that began on April 1, according to fresh statistical figures released by the Ministry of Finance.
The surplus was made as a result of actual revenues that amounted to KD 26.
8 billion, actual spending of KD 10.8 billion and real liabilities standing at KD 2.6 billion, Projections for the mentioned period had put projected deficit at approximately KD 6.7 billion, as a result of forecast income of at KD 12.3 billion, approved spending at KD 17.8 billion and projected liabilities at KD 1.2 billion.
Projections for the whole financial year, 2011-201, indicated at a prospected deficit of KD 7.3 billion, through forecast revenues of KD 13.4 billion, approved expenditure, after alteration, estimated at KD 19.4 billion and prospected liabilities at KD 1.3 billion.
Actual oil income, in February, reached some KD 2.6 billion, increasing by 63.2 percent, as compared to the projections, amounting to KD 1.6 billion.
Collected actual oil revenues, till end of February, reached KD 25.4 billion, with an increase of KD 13.7 billion, in contrast to the forecast, amounting to KD 12.3 billion, some 107 percent.
The figures showed that actual oil revenues, in the first 11 months of the current fiscal year, were higher than the projection, KD 11.2 billion, with an increase of KD 14.1 billion, some 125.8 percent.
The oil income constituted, in the mentioned period, 94.9 percent of the overall state financial revenues, amounting to KD 26.8 billion.
As to actual non-oil revenues, they reached KD 1.4 billion, rising by KD 276 million, as compared to the prediction, estimated at KD 1.1 billion, with a rise of 24.3 percent.
Moreover, the official figures revealed that the actual non-oil income, standing at KD 1.043 billion, was higher than the projection by KD 371 million, 25.6 percent.
Price of the Kuwaiti crude oil stood at USD 115.97 per barrel on Friday.
