Kuwait Posts $32 Billion Budget Surplus in First Six Months

Oct. 27 (Bloomberg) -- Kuwait posted a preliminary budget surplus of 8.87 billion dinars ($32.2 billion) in the first half of the fiscal year ending March 31, 2012, the Finance Ministry said.

Income was 13.93 billion dinars, including oil revenue of 13.29 billion dinars, and spending was 5.06 billion dinars, according to data posted on the ministry’s website today. By law, 10 percent of revenue is saved in the Reserve Fund for Future Generations.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Louis Meixler at lmeixler@bloomberg.net