Kuwait is set to run a third consecutive budget deficit for the year beginning 1 April with the 2016-17 deficit slated to be almost twice that of the previous year.
The government plans to raise debt on international and domestic markets to cover part of the deficit whilst plugging the remainder through drawing down its reserves. But these are inherently short term measures and with oil prices likely to remain well below the $65-70/B necessary to balance the budget, structural reforms are necessary. (CONTINUED - 980 WORDS)
