Kuwait: public finances

What is Kuwait's budget deficit for 2026/27?

Kuwait's state budget for the fiscal year 2026/27 projects a deficit of KWD 9,755.6 million, 54.7% larger than the KWD 6,306.5 million in the 2025/26 budget, according to the Ministry of Finance's budget presentation (February 2026). Revenue is projected at KWD 16,312.8 million, 10.5% lower, and spending at KWD 26,068.4 million, 6.2% higher.

Oil revenue is projected at KWD 12,812.8 million, based on an oil price of USD 57 a barrel and production of 2.6 million barrels a day. The ministry puts the budget breakeven oil price at USD 90.5. Actual results depend on oil prices, so the closing account can differ widely from the budget.

Official sources: Ministry of Finance: Budget presentation 2026/27 (PDF, Arabic)

How much non-oil revenue does Kuwait have?

Kuwait's 2026/27 budget projects non-oil revenue of KWD 3,500.0 million, 19.6% more than the KWD 2,926.0 million in the 2025/26 budget, according to the Ministry of Finance's budget presentation. Oil revenue of KWD 12,812.8 million makes up about 79% of the total.

The budget also raises capital spending by 36.8%, to KWD 3,069.1 million. Subsidies are budgeted at KWD 3,962.7 million, 10.5% less than a year earlier. These are budget estimates for 1 April 2026 to 31 March 2027; outturns are reported in the ministry's monthly reports and the final account.

Official sources: Ministry of Finance: Budget presentation 2026/27 (PDF, Arabic)

What is Kuwait's government debt?

The latest figure from the IMF, for 2025, is 14.6% of GDP. Its high point since 2005 was 2017, at 19.6% of GDP; its low point was 2024, at 2.9% of GDP. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 52.5% of GDP, and Kuwait placed 19th highest of 20. Of 185 countries with 2025 data, 174th highest.

Does Kuwait's government borrow more than it raises?

In 2025, general government net lending or borrowing in Kuwait was 24.5% of GDP, according to the IMF. Since 2005 it has ranged from 0.2% of GDP (2020) to 40.5% of GDP (2012). Across Middle East, North Africa, Afghanistan & Pakistan the middle value was -5.2% of GDP, and Kuwait placed 1st highest of 21. Of 188 countries with 2025 data, 2nd highest.

What is Kuwait's government revenue?

The IMF puts general government revenue in Kuwait at 73.3% of GDP in 2025. The peak was 78.8% of GDP in 2013 and the low 58.3% of GDP in 2021. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 26.3% of GDP, and Kuwait placed 1st highest of 21. World rank, highest first: 5th of 187.

How big is Kuwait's government spending as a share of GDP?

48.8% of GDP: that is general government spending in Kuwait for 2025, according to the IMF. Since 2005 it has ranged from 28.7% of GDP (2005) to 62.9% of GDP (2020). It is 2nd highest of 21 in Middle East, North Africa, Afghanistan & Pakistan, where the median is 28.7% of GDP. Of 186 countries with 2025 data, 23rd highest.

What is Kuwait's defence spending?

SIPRI puts military spending in Kuwait at 4.7% of GDP in 2025. The peak was 6.3% of GDP in 2020 and the low 3.0% of GDP in 2008. Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 3.1% of GDP, and Kuwait placed 5th highest of 15. World rank, highest first: 9th of 149.