The Kuwaiti Council of Ministers approved on Sunday a project for the budget for the financial year 2025-2026 with an anticipated deficit of about 6.306 billion dinars (20.45 billion dollars).
According to reports, this budget project represents the largest deficit in the country's history. According to the government, the need to approve the project is linked to the fact that it takes into account the most essential needs of the population and provides the possibility of covering expenditures without using reserves.
In this regard, an increase in the revenue part of the budget is expected through diversification of revenue sources and enhancing the role of non-oil revenues.
As a result of the above measures, the government hopes to improve the structure of revenues and reduce dependence on revenues from the oil sector to ensure the financial sustainability of the country.
