The ministry said in a press release that for fiscal 2023-24 (April 2023-March 2024), the total actual revenues amounted to 23.6 billion dinars, a decrease of 17.9 percent from the previous year, and an expenditure of 25.2 billion dinars, following a 12.7-percent increase.
The drop in total revenues was mainly due to a 19.4 percent decline in oil revenues to 21.5 billion dinars in fiscal 2023-24.
According to the ministry, the actual non-oil revenues amounted to 2.1 billion dinars, an increase of 1.3 percent from the previous year.
The ministry pointed out that the average price of a Kuwaiti oil barrel was 84.36 U.S. dollars, while the daily average oil production was 2.65 million barrels.
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