Arab Finance: Kuwait’s budget deficit fell by 72.2% year-on-year (YoY) to KWD 2.99 billion ($9.71 billion) in fiscal year (FY) 2021/2022, Reuters reported on November 20^th, quoting the finance ministry.

Oil revenues of the Gulf state rose by 84.2% YoY in FY 2021/2022, recording KWD 16.22 billion ($52.69 billion), the ministry revealed.

It is worth noting that the fiscal year in Kuwait ends in March.