Kuwait is projecting a 4.7% rise in spending to KWD22.5bn (USD74bn) in its fiscal year (ending March) 2020 budget to drive economic growth. The Kuwaiti Finance Minister Nayef al-Hajraf said he expected the average oil price in the range of USD55-65 per barrel. The budget deficit is projected at KWD7.7bn after accounting for 10% of total revenue into sovereign wealth fund.
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