Kuwait’s budget surplus in the first three months of its 2011-12 fiscal year reached 5.6 billion dinars ($20.3 billion), larger than a year ago on higher than expected oil revenue and lower spending, finance ministry data showed.
The surplus accounted for 15.2 percent of the OPEC member’s gross domestic product, according to Reuters calculations. It stood at 3.2 billion dinars in the same period a year ago and at 4.2 billion in April-May.
Revenue of the world’s sixth-largest oil exporter was 7.1 billion dinars in April-June, while spending came at 1.5 billion dinars, below a projected 4.8 billion, the data showed.
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