close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Kuwait’s money matters

Kuwait’s money matters

Analysts suggest Kuwait will see a $24 billion surplus for 2009-2010, but a $26 billion deficit is expected next year.

0

February 9, 2010 3:53 by



Kuwait is expected to post a surplus of $24 billion in the fiscal year ending March 31, despite forecasting to see a deficit, according to a report released by the National Bank of Kuwait (NBK), reports AFP.

The NBK report said that the country’s revenues were projected to reach $61.8 billion in the year, much higher than budget projections of $28.1 billion, mainly because of the increasing oil prices.

Kuwait based its budget on an oil price of $35 per barrel, but the average oil price for the year is expected to reach around $69.5 per barrel, according to the report. Hence Kuwait’s oil revenue forecast of $24.1 billion is much less than the $57.8 billion it is anticipated to earn during the period, said NBK. Oil income contributes to about 94 percent of total revenue.

But the country is now forecasting a deficit of about $26 billion for the next fiscal year, Khalifa Hamada, the undersecretary of Kuwait’s finance ministry, told Zawya Dow Jones on Tuesday.

The ministry is expecting to spend about $56.1 billion during the year, and is projecting revenues of around $29.8 billion, Hamada said. The budget will be based on an oil price of $43 a barrel, he added.



Pages: 1 2

0

Tags: , , , , , ,

Leave a Comment