Monday 19 September 2011

Kuwait budget surplus rises to $15 bln April-May | Reuters

Kuwait's budget surplus stood at 4.2 billion dinars ($15.3 billion) in the first two months of its 2011/12 fiscal year, larger than a year ago on higher-than-projected oil revenue and lower spending, finance ministry data showed on Sunday.

The surplus accounted for 11.4 percent of the OPEC member's gross domestic product, according to Reuters calculations. It reached 2.4 billion dinars in the same period a year ago.

Revenue of the world's sixth-largest oil exporter was 4.8 billion dinars in April-May, while spending was 648.3 million dinars, below a projected 3.2 billion for the first two months, the data showed.

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