Despite the global economic meltdown and falling oil prices, Kuwait achieved an increase of 46. 3 percent in its revenue during the first nine months of the current fiscal year, said an economic report released on Saturday.
The report issued by Kuwaiti consultancy company Al-Shal said the revenue in the first nine months reached 18.5 billion Kuwait dinars (about 66.6 billion U.S. dollars).
It put the actual oil revenues in the first nine months of the current financial year, which began from April, 2008, at 17.6 billion dinars, representing an increase of 50.8 percent than revenues which were predicted for the whole financial year of 11.6 billion dinars.
During an economic lean patch weighed by a global recession and falling oil prices, some experts had earlier predicted the mid- year spurt in oil prices breaking all previous records would offset the dips in the final tally.
Non-oil revenues reached 979.4 million dinars, at a monthly average of 108.8 million dinars, according to the report.
The country's appropriation expenses were estimated at 17.8 billion dinars, but are expected to rise to around 18.9 billion dinars, the report said. Kuwait, the seventh largest oil exporter in the world, produces nearly 2.5 million barrels per day. (1 Kuwait dinar equals 3.6 U.S. dollars)
(Xinhua News Agency January 25, 2009)