Kuwait City: Minister of Finance and Minister of State for Economic and Investment Affairs, Noura Al-Fassam, revealed on Sunday the state budget draft for the fiscal year 2025-2026. The estimated revenues are approximately KD 18.23 billion (about USD 58.95 billion), while the expenses are around KD 24.5 billion (about USD 79.23 billion), resulting in a deficit of KD 6.30 billion (about USD 20.37 billion), which includes capital expenditure of KD 2.24 billion (about USD 7.24 billion).
According to Kuwait News Agency, the cabinet has approved the draft budget in preparation for submitting it to His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, as stated by Al-Fassam in a press statement. The total estimated revenues have decreased by 3.6 percent. Oil revenues, estimated at KD 15.30 billion (about USD 49.48 billion), have gone down by 5.7 percent compared to the current budget ending on March 31, 2025.
Moreover, non-oil revenues are estimated at KD 2.92 billion (about USD 9.44 billion), marking an increase of nine percent from the current budget. The price of oil barrels in the fiscal year 2025-2026 is projected to be USD 68 per barrel, while the breakeven price to bridge the fiscal deficit is estimated to be USD 90.5 per barrel.