OPEC member Kuwait has posted record budget surplus and revenues in the 2011-2012 fiscal year that ended on March 31 on the back of high oil output and price, an economic report said on Sunday.
The oil-rich Gulf state posted a historical budget surplus of 13.2 billion dinars ($47 billion) for the 13th consecutive fiscal year, the Al-Shall Economic Consultants said in a report citing official figures.
The previous highest surplus of 9.33 billion dinars ($33.2 billion) was posted in the 2007-2008 fiscal year when oil prices skyrocketted to a record $147 a barrel.
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