Kuwait’s Ministry of Finance announced that the country’s budget deficit for the 2025–26 fiscal year has risen to 7.1 billion Kuwaiti dinars, equivalent to about 23.9 billion US dollars. The ministry attributed the increase to a significant drop in oil revenues, according to a statement cited by Al Jazeera.

Compared with the previous fiscal year, the deficit expanded by 13.2 percent. The government’s total revenue fell by around 10 percent from earlier projections, with income from the oil sector declining by 11.2 percent to 15.3 billion Kuwaiti dinars, or roughly 49.4 billion US dollars.

The data highlight Kuwait’s continued dependence on oil income and the fiscal pressure caused by lower global energy prices, as reflected in the ministry’s report.