A dated draft-budget announcement

On 10 February 2026, Kuwait’s Ministry of Finance presented the draft budget for 2026/27, the fiscal year from 1 April 2026 to 31 March 2027. The announcement projected total revenue of KD 16.3 billion.

The draft projected KD 12.8 billion in oil revenue and KD 3.5 billion in non-oil revenue. The Ministry described the latter as 19.6% higher than the budget ending on 31 March 2026.

Key fiscal numbers

The announcement projected expenditure of KD 26.1 billion, with salaries and subsidies accounting for 76% and capital expenditure for 11.8%. Those figures belong to the February draft.

The oil-revenue estimate is based on an assumed average oil price of USD 57 per barrel for the fiscal year.

Investment and tax-policy lens

The non-oil revenue increase is relevant to the direction of fiscal diversification, but the budget announcement does not by itself establish that a new tax has been enacted.

For investors and tax teams, the useful signal is the growing weight placed on non-oil revenue alongside existing and developing tax frameworks, rather than a conclusion about any single future tax measure.

Why it matters

Tax & Markets treats budget data as policy context rather than tax legislation. It helps show the fiscal environment in which tax administration and revenue-diversification measures are being developed.

These figures are historical draft projections, not realised revenue or a separately verified final appropriation. Current expenditure decisions and fiscal modelling require the enacted budget and subsequent execution data.