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Kuwait Says Govt. Spending Must be Fixed to Control Budget Growth

An aerial view shows little traffic on the roads of Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. (Reuters)
An aerial view shows little traffic on the roads of Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. (Reuters)
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Kuwait Says Govt. Spending Must be Fixed to Control Budget Growth

An aerial view shows little traffic on the roads of Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. (Reuters)
An aerial view shows little traffic on the roads of Kuwait City after the country entered virtual lockdown, following the outbreak of coronavirus, in Kuwait City, Kuwait March 16, 2020. (Reuters)

Kuwait's budget is projected to show a deficit of 5.6 billion dinars ($18.33 billion) for the 2024-2025 fiscal year, with expenses estimated at 24.5 billion dinars and revenues at 18.9 billion dinars, the Ministry of Finance announced on Sunday.

Government spending must be fixed at 24.5 billion Kuwaiti dinars in the 2027-2028 budget to control budget growth, it added, Reuters reported.

The liquidity of the General Reserve Fund, from which the budget deficit is financed, decreased to 2 billion dinars last March from 33.6 billion ten years ago due to increasing withdrawals, the Ministry of Finance said.

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GASTAT: Inflation Rate in Saudi Arabia Reached 1.9% in December

The Saudi capital Riyadh. Reuters
The Saudi capital Riyadh. Reuters
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GASTAT: Inflation Rate in Saudi Arabia Reached 1.9% in December

The Saudi capital Riyadh. Reuters
The Saudi capital Riyadh. Reuters

The annual inflation rate in Saudi Arabia reached 1.9% in December 2024, according to the General Authority for Statistics (GASTAT).

The Kingdom has the lowest inflation rates among the G20 countries.

The Consumer Price Index (CPI) reflects changes in prices paid by consumers for a fixed basket of goods and services consisting of 490 items. This basket was selected based on the results of the household expenditure and income survey conducted in 2018. Prices are collected through on-site visits to sales points.

CPI statistics are published monthly.