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Kuwait to base 2016/17 budget on oil price of $25

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - As per Arabiya headlines on Bloomberg, Kuwait has decided to base its 2016/17 budget on oil price of USD 25/barrel.

    The nation expects 2016/17 budget deficit at 12.9 billion dinars. Most of the OPEC nations are expected to suffer massive budget deficits; given the sharp decline in the oil prices.

    Kuwait’s decision to base its budget on oil price of USD 25/barrel could reduce the a very low possibility of a sharp rebound this year.
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