With a $75/B break-even oil price, Kuwait’s freshly-released 2022-23 budget could see the emirate post its first surplus in nine years. Good news as Kuwait’s inability to raise debt makes the task of financing budget deficits a complicated one.

Kuwait has unveiled its draft budget law for 2022-23, in which the headline figure is a KD3.1bn ($10.2bn) deficit. The budget is based on a forecast oil price of $65/B, but perhaps more importantly Kuwait says that with $75/B it will break even. (CONTINUED - 875 WORDS)