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Kuwait to Boost Spending As Budget Deficit Hits KD 7.7Bn Hajraf Vows Fiscal Reforms • Oil Seen at $55 Per Barrel • Non-Oil Revenues to Increase

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Kuwait to Boost Spending As Budget Deficit Hits KD 7.7Bn Hajraf Vows Fiscal Reforms • Oil Seen at $55 Per Barrel • Non-Oil Revenues to Increase JAMADA ALAWWAL 16, 1440 AH TUESDAY, JANUARY 22, 2019 Max 17º 28 Pages Min 05º 150 Fils Established 1961 ISSUE NO: 17739 The First Daily in the Arabian Gulf www.kuwaittimes.net KFAED signs KD 9 million Jordan hits out at Israel’s Zain recognized as ‘Best Telecom Japan edge profligate Saudis to 36loan agreement with China new airport near Red Sea 11 Company in Kuwait’ for 2018 28 reach Asian Cup quarterfinals Kuwait to boost spending as budget deficit hits KD 7.7bn Hajraf vows fiscal reforms • Oil seen at $55 per barrel • Non-oil revenues to increase By Nawara Fattahova and Agencies MP calls to expel KUWAIT: Kuwait’s estimated budget deficit for the 2019/2020 fiscal year could soar to KD 7.7 billion ($25.3 billion), Finance Minister Nayef Al-Hajraf said ‘bachelors’ from yesterday. Kuwait plans to spend KD 22.5 billion ($74 billion) in total expenditure for the fiscal year 2019/2020 - a 4.7 percent rise - based on an average Salmiya block 13 of $55 per barrel of Kuwaiti crude oil, the minister told a press conference held at the Public Institution for By B Izzak Social Security. Total revenues stand at KD 16.4 billion ($54 billion), KUWAIT: MP Saleh KD 14.5 billion ($47.7 billion) of which are oil revenues, Ashour yesterday while non-oil revenues amount to KD 1.86 billion ($6.1 called for immediately billion), 5.4 percent higher compared to the current expelling all single year’s budget. Hajraf revealed wages and employee men from block 13 of bonuses make up 71 percent of total expenditure, while Salmiya because of capital spending accounts for 17 percent, with 12 per- the “danger” they cent forming other expenses. The budget projects state pose to Kuwaiti fami- subsidies of KD 3.97 billion. Hajraf said the estimated budget deficit of KD 7.7 KUWAIT: Finance Minister Nayef Al-Hajraf speaks during a press conference yesterday to announce the budget for lies in the area and for the year 2019/2020. — Photo by Yasser Al-Zayyat putting public services billion takes into account revenue deductions of 10 per- under pressure. The Saleh Ashour cent earmarked for the Future Generations Fund, which lawmaker called on the is managed by the Kuwait Investment Authority (KIA). lion barrels. Brent crude oil futures traded around $63 ing stricter measures dealing with government debt government to form a KIA, a major global investor, manages about $592 bil- yesterday. “We should not depend completely on the collection, including a settlement of KD 341.4 million committee from various ministries and govern- lion in assets, according to the Sovereign Wealth Fund rising price of oil, but decrease expenses. Oil expenses ($1.1 billion) for the next fiscal year. ment agencies to draw a plan for evicting them Institute, which ranks it the world’s fourth-biggest sov- also increased due to spending on oil refining and “This starts with cutting unnecessary expenses. from the residential area. He said the presence of ereign wealth fund. development,” Hajraf said. Public institutions should all cooperate to reduce “unmarried” men in the area has created numer- The finance ministry said the fiscal deficit is expect- The budget has been designed to stimulate econom- expenses,” explained Hajraf. “We also will cooperate ous problems for residents and contributed to the ed to decline by 2.1 percent compared to current budg- ic growth through maintaining capital expenditure lev- with the parliament to pass a new law on the rules of deterioration in the standard of public services in et figures. Hajraf said the deficit will be totally covered els of 17 percent, Hajraf pointed out, suggesting a cor- preparing the state budget. This will cause a boom in the area. by general state reserves. The 2019-2020 budget indi- relation between the completion of development proj- accounting systems, which will result in more precise Continued on Page 24 cates a breakeven oil price range of $75 to $80 per ects and cutting unnecessary expenses. “We are firmly financial expectations, actual performance and trans- barrel, based on an average daily oil output of 2.8 mil- on the path towards fiscal reforms,” he emphasized, cit- parent results,” he pointed out. News in brief response to a medium-range, surface-to- Israel strikes in surface missile the Quds Force fired from Syria at the Israeli-occupied Golan Deportations fall by 45% Heights on Sunday, which Israeli air defenses intercepted. KUWAIT: An informed source said authorities deport- Syria in open “The air force struck a strong blow ed nearly 17,000 expats in 2018 compared to 29,000 against Iranian targets in Syria after Iran in 2017, a drop of 45 percent. The source said the drop assault on Iran fired a missile from there toward Israel,” in the number of residency violators is the main reason Israeli Prime Minister Benjamin Netanyahu behind the drop in the number of deportees, in addition said. “We do not allow such acts of to instructions by the government to not deport any JERUSALEM: Israel struck what it said aggression to pass by. We are acting expat on malicious or illegal grounds. The source said were Iranian targets in Syria yesterday in against Iran and against the Syrian forces 31,000 expats were deported in 2016 following several response to missile fire it blamed on Iran, who are tools of Iranian aggression.” security campaigns in that period. He added that sparking concerns of an escalation after a Iranian media quoted Air Force deportation is now quicker, as any person who is report that 11 fighters were killed. Israel Commander Aziz Nasirzadeh as saying detained at the deportation prison does not remain announced the strikes against facilities it “our current and future generations are there more than a week. He said the main reasons said belonged to the Iranian eagerly and full-heartedly ready for bat- behind deportations are residency violations and Revolutionary Guards’ Quds Force as tling with the Zionist regime and eradicat- felonies, especially those related to traffic. — Al-Qabas they were occurring, continuing its recent practice of speaking more openly about ing them from the face of the earth”. DAMASCUS: A picture taken early yesterday shows Syrian air defense batteries respond- such raids. It said the strikes were in Continued on Page 24 ing to Israeli missiles targeting the capital. — AFP WhatsApp limits text forwards Turnout was heavy in core areas of the proposed Bangsamoro region, located primarily on the southern JAKARTA: Facebook Inc’s WhatsApp messenger Philippines seeks island of Mindanao, and voters are expected to back it service is globally limiting the number of times a overwhelmingly in most areas. “I’m tired of the violence user can forward a message to five, in a bid to fight because my father is one of the victims,” said 22-year- “misinformation and rumors”, company executives peace with Muslim old Jembrah Abas, adding he was slain by unidentified said yesterday. “We’re imposing a limit of five mes- attackers after advocating for peace. The election “is on sages all over the world as of today,” Victoria Grand, self-rule referendum the 20th anniversary of his death. I am so sick of the vice president for policy and communications at violence”, she told AFP. WhatsApp, said at an event in the Indonesian capi- Roughly 2.8 million voters were being watched over tal. Previously, a WhatsApp user could forward a COTABATO: A decades-long push to halt the violence that by a contingent of 20,000 police and soldiers, due to message to 20 individuals or groups. — Reuters has claimed some 150,000 lives in the southern Philippines culminated yesterday with a vote on giving the nation’s fears rival insurgent groups could use violence to try to Muslim minority greater control over the region. The poll is disrupt the poll. The peace process began in the 1990s the final step in a peace deal with the Catholic-majority and does not include hardline Islamist factions, includ- ing those aligned with the Islamic State group, which Qatar to buy $500m Lebanon bonds country’s largest Muslim rebel group, the Moro Islamic COTABATO, Philippines: A woman shows her inked thumb at a vot- Liberation Front (MILF), which has been a key force in a are also active in the southern Philippines. ing precinct on the southern island of Mindanao yesterday. — AFP separatist insurgency that has raged since the 1970s. Continued on Page 24 DOHA: Wealthy Qatar said yesterday it will pur- chase $500 million of government bonds in debt- ridden Lebanon. “Qatar will buy Lebanese govern- Americas, and shortly before dawn in ment bonds valued at $500 million,” Foreign Super blood Europe and Africa. Minister Mohammed bin Abdulrahman Al-Thani The eclipse lasted about three hours: said. The purchase would “strengthen the Lebanese During the first hour the full moon was economy”, and the decision was taken after a wolf moon gradually swallowed up by the shadow meeting yesterday between Qatar’s Amir Sheikh of the Earth, then an hour of total eclipse Tamim bin Hamad Al-Thani and Lebanese where it was not invisible but instead President Michel Aoun, he said. —AFP wows gazers appeared tinted in hues of red, orange and pink, followed finally by its full WASHINGTON: An unusual set of reemergence, bright and shining. The full Indian man killed by lion celestial circumstances came together moon appeared bigger than normal over Sunday night and the wee hours of because it was closer to the Earth - about 358,000 km away - earning it the NEW DELHI: An Indian man was mauled to death yesterday for sky watchers in Europe, nickname “supermoon”.
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