Kuwait budget deficit could increase to $46 billion in 2020/21: Document

The sun sets over the Kuwait City skyline. (File Photo: AFP/Romeo GACAD)

Kuwait expects its budget deficit to widen in its 2020/21 fiscal year to 14 billion dinars ($46 billion), according to a ministry of finance estimate in a parliamentary document, as the economy reels from the coronavirus outbreak and weak oil prices.

The projection compares to a previous forecast of 7.7 billion dinars, according to the document seen by Reuters. Kuwait's fiscal year runs from April 1 to March 31.

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Last Update: Tuesday, 18 August 2020 KSA 15:07 - GMT 12:07