Government expenditures reduced in Kuwait for 1999

The Kuwaiti government decided to reduce governmental expenditures in the 1999 budget, valued at $14.47 billion. This is due to reducion of the selling price for petroleum. A Kuwaiti diplomatic source in Cairo said that the expected shortage in the coming budget will be 1.919 billion dinars, and the budget expects that petroleum revenues would amount to 1.894 billion dinars, which is half of the petroleum income in the year 97/98 when the price of Kuwaiti petroleum was $14.25 per barrel.