Government's Draft Budget for 2010-11, Based on an Oil Price of $43/B, Projects a Theoretical Net Deficit of $25.7 Billion

摘要

The draft budget for fiscal 2010-11, which starts on 1 April, was published on the website of the Ministry of Finance and accompanied by an explanatory note from the Minister, Mr. Mustafa al-Shamali. It was drawn up on the assumption of an average oil export price of $43/b, as against $35/b in the 2009-10 budget, and average oil production of 2.2 million b/d. The draft budget, which has yet to be approved by Parliament, forecasts total receipts at KD 9,719.3 million, including oil revenues of KD 8,616.6 million ($29.9 billion), and estimates total expenditure at KD 16,162 million.