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The Kuwait Government used 1.5 Billion Kuwaiti Dinars on Economic Projects in Nine Months

The Ministry of Finance shared that in the first nine months of the 2023-2024 fiscal year, the government spent around 1.5 billion dinars on projects and economic activities. This is about 52.5% of the total budget set aside for these projects, which was 2.9 billion dinars. This means there’s about 1.1 billion dinars left to spend.

Of the total estimated spending, about 1.9 million dinars were used on development projects, making up 32.2% of the expected expenses. The government also provided around 10.1 million dinars in economic aid to foreign parties, which is 9.2% of the planned amount of about 110.2 million dinars.

For the oil and gas sector, the government spent approximately 688.7 million dinars, or 82.4% of the total expected cost. Expenditures for the electricity sector were around 258.3 million dinars, or 40% of the planned amount. Additionally, about 639 million dinars were spent on water projects, and roughly 947 million dinars were used for fuel and energy, making up 63.9% of the total budgeted 1.4 billion dinars.

Street lighting saw expenditures of about 721.8 thousand dinars, which is 90.2% of the estimated budget. On the revenue side, the government collected about 333.8 thousand dinars from taxes and fees, which is 64.4% of the total expected revenues. Revenue from the disposal of non-operating assets amounted to 4.3 million dinars, or 4.6% of the estimated value.

Overall, the Ministry of Finance collected approximately 131.5 million dinars in revenue during the nine months, which is 39.4% of the total expected revenue of 160 million dinars. The state’s general budget showed revenues of 15.44 billion dinars, while total expenditures and commitments amounted to about 17.17 billion dinars, resulting in a deficit of 1.72 billion dinars.

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