As governments round the world struggle to put their finances in order, the government of Kuwait is facing criticism many technocrats could only dream of: that its oversize budget surplus reflects a state that is simply not spending enough.
Data released this week by the country’s Ministry of Finance shows Kuwait posting a surplus of 13.2bn Kuwaiti dinars ($46.8bn), or about 30 per cent of gross domestic product, in the fiscal year ending March 31. Capital expenditure, which includes long-term investments such as projects, equipment and land purchases, totalled only 64 per cent of budgeted spending, among the lowest proportion of the past decade.
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