Kuwait City: Kuwait plans to boost spending by more than 34 per cent in the fiscal year starting April 1 and is projecting a deficit of 6.46 billion dinars (Dh81.8 billion), according to a copy of the draft budget submitted to parliament.
Spending is forecast at 16.16 billion dinars and revenue at 9.7 billion dinars, according to the draft budget.
Oil revenue is projected at 8.62 billion dinars and non-oil revenue at 1.1 billion dinars. The 2010-11 budget will be based on an oil price of $43 a barrel.
The budget is still being discussed by parliament's budget committee and will later be voted on by the legislative body.
Kuwait, the fifth-biggest Opec producer, recorded a budget surplus of 2.74 billion dinars in the 2008-09 fiscal year.
Projected spending for the current fiscal year ending March 31 is 12.1 billion dinars and revenue is 8.1 billion dinars.
