SUBSCRIPTION THURSDAY, NOVEMBER 13, 2014 MUHARRAM 20, 1436 AH www.kuwaittimes.net Second grand The Real Fouz: Everybody Raptors beach Lip care loves the rally to cleaning drive tips of adorable beat Magic underway3 the37 week ‘Dadi’39 again20 Mixed signals: MP warns of Min 07º deficit, govt posts surplus Max 27º High Tide 02:27 & 17:07 Stats office says economy grew last year, contradicting IMF Low Tide 10:07 & 22:10 40 PAGES NO: 16341 150 FILS By B Izzak and Agencies conspiracy theories Nod to Gulf security pact KUWAIT: Kuwait could end the current 2014/2015 fiscal Walk carefully and year with a budget deficit due to the sharp fall in oil rev- enues, which will be the first shortfall following a budg- carry a big stick Leaders could meet ahead of summit et surplus in each of the past 15 fiscal years, head of the National Assembly’s budgets committee MP Adnan Abdulsamad warned yesterday. MP Ahmad Al-Qudhaibi meanwhile said that he has collected the necessary 10 signatures to call for holding a special Assembly session to discuss the consequences of the sharp drop in oil prices. By Badrya Darwish Oil income makes up around 94 percent of Kuwait’s public revenues and this explains how sensitive the Kuwaiti budget will be to movements in oil price. The government, which last month ended subsidies on diesel, kerosene and aviation fuel, instructed ministers
[email protected] on Monday to rationalize spending and ensure that expenditures go in the right direction. MP Abdulsamad said that based on calculations of itting at the newspaper yesterday afternoon, average oil prices and average daily production, Kuwait we got some exciting news.