Parliament approves budget for FY '16-17; expected revenues of KD 10 bln

KUWAIT, June 29 (KUNA) — The National Assembly approved on Wednesday the general state budget for the fiscal year 2016-2017, with total expected revenues of about 10 billion Kuwaiti Dinar, an increase of KD two billion due to various factors, among them recovering oil prices from the previous budget which amended the prices of oil from USD 25 to USD 35 a barrel.
In a statement to reporters, the Chairman of budgets and final accounts committee MP Adnan Abdulsamad told reporters that the budget’s total estimated expenditures are about KD 18 billion, leading to a deficit of around KD 9 billion.
Abdulsamad added that the budget for the Anti-corruption Public Authority was lacking various critical details and will be submitted for scrutiny in tomorrow’s session. (end) sss.mb