Kuwait is running out of money for the salaries of public servants and will have no money to cover these after November, the country’s finance minister told parliament. Unless oil prices rise, the money being used now, withdrawals from the General Reserve Fund, will simply be depleted, Middle East Monitor reports , citing the official, Barak Al-Sheeran. Kuwait’s budget deficit hit $18.44 billion in fiscal 2019-2020, which ended in March. The deficit will widen this fiscal year on the back of the oil price collapse and the pandemic, potentially reaching $45.78 billion (14 billion dinars). This is up from a previous deficit projection of $25.18 billion (7.7 billion dinars). In January this year, when Kuwait was budgeting for fiscal 2020-2021, the size of the deficit stipulated in the budget was $3.33 billion, based on oil price projections of $55 a barrel of Brent. The budget gap was 19 percent […]