Budget deficit

KUWAIT: Kuwait needs KD 7 billion to finance the 2016/2017 budget deficit, according to the initial strategy for the management of the public debt.

The deficit will be funded as follows: KD 1 billion through traditional and Islamic bonds (sukuk) offered by banks, KD 2.3 billion through traditional international debt instruments, KD 600 million through Islamic debt instruments (sukuk) and KD 1.2 billion to be withdrawn from the general reserve. — Al-Qabas

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