[ad_1]
Kuwait has started to run out of funds, as a result of which the state will soon be unable to pay its employees. According to the finance minister, the country would have a great need to increase oil prices.
It is increasingly testing the oil economy in Kuwait. The country’s finance minister has informed parliament that, in the current situation, the government threatens to be able to pay the brt of public employees on RT.com from November.
Kuwait’s budget was $ 18.44 billion in March 2019. However, low oil prices will further increase the deficit in the next period (complemented by the unfavorable economic effects of the coronary arm), which could soon reach $ 45.78 billion. And that would be a huge increase in belief if we look at the latest deficit forecast of $ 25.18 billion.
And when Kuwait blew the 2020-21 budget in January, it was billing $ 55 a month for Brent oil, and the government was planning a bill of $ 3.3 billion. Even then, the belief was multiplied by 19 compared to the previous one, as the heavy dependence on oil could not always recover from the previous collapse of the raw material.
When the oil broke down again this year, Kuwait began digging up its contents very quickly. The government had to spend $ 13.04 billion from the general content fund every hundred days. It is not a coincidence that the Kuwaiti parliament is currently negotiating the release of the two government regulations, which could result in a $ 65.4 billion loan from the leaders over the next 30 years.
Kuwait is also one of six countries in the world whose economy is almost entirely dependent on oil production. Although analysts interviewed by Reuters have recently estimated that economies on the road may rebound in 2021 after this year’s difficulties, the current situation suggests that Kuwait will have a worse time.
[ad_2]
