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News Kuwait > Politics > Kuwait Cabinet Clears 2025-2026 Fiscal Accounts Showing KD 7.14 Billion Deficit
Politics

Kuwait Cabinet Clears 2025-2026 Fiscal Accounts Showing KD 7.14 Billion Deficit

NewsDesk
Last updated: July 8, 2026 9:23 pm
NewsDesk
4 weeks ago
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The Kuwaiti Cabinet chaired by Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah approved a draft decree-law adopting the state’s final accounts for fiscal year 2025-2026 on Tuesday according to a Kuwait News Agency dispatch. The accounts showed revenues of roughly KD 16.45 billion against expenditures of KD 23.59 billion resulting in the KD 7.14 billion shortfall that will be financed entirely through drawdowns from the General Reserve Fund. A Ministry of Finance assessment placed the actual deficit 13.2 percent higher than the previous fiscal year while the draft decree has been referred to the Amir for ratification. Kuwait News Agency figures confirm the full amount of the deficit will be met without additional borrowing measures at this stage.

A joint presentation by Minister of State for Communications and Information Technology Omar Saud Al-Omar and committee head Sheikh Abdullah Sabah Humoud Al-Sabah detailed advancements in multi-billion-dollar cloud agreements with Google Cloud and Microsoft during the same session. The Cabinet described acceleration of these timelines as a paramount national priority to build an integrated digital government that improves public service delivery and institutional readiness for emergencies. Partnerships with the two technology companies originated in agreements signed in 2023 with Google Cloud and expanded through a March 2025 Microsoft deal to establish an AI-powered Azure region. A U.S. Department of Commerce commercial guide placed Kuwait’s information and communication technology market at $20.4 billion in 2025 with expectations of substantial expansion over the next five years as part of the Vision 2035 framework.

The Cabinet received a briefing on audiences held the previous day by the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah with Education Minister Sayed Jalal Al-Tabtabai and senior officials. The leadership reviewed completion of grade 10-12 final examinations for the 2025-2026 academic year and issued directives to modernize national curricula upgrade school infrastructure and integrate artificial intelligence while preserving national identity values. The Amir commended the efforts of administrative and teaching staff describing teachers as the cornerstone of the education process. Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah separately extended congratulations to top-achieving graduates and their families according to the Kuwait News Agency account.

In its review of regional developments the Cabinet condemned an Iranian attack on a Qatari commercial tanker near the Strait of Hormuz describing it as a violation of international law that threatens maritime safety and global energy supplies. The government reiterated Kuwait’s full solidarity with Qatar and called for an immediate end to escalatory actions in line with rules guaranteeing freedom of navigation. The Cabinet also denounced recent bombings in Damascus and affirmed its rejection of all forms of terrorism while expressing support for Syrian efforts to maintain security and stability for its people. Kuwait News Agency reported that both positions reflect the state’s consistent stance against practices that destabilize the wider region.

The session included a presentation by Minister of State for Youth and Sports Affairs Dr. Tariq Al-Jalahma on the Kuwait Youth and Sports Season project which seeks to build public-private partnerships for hosting major sporting events. The Cabinet expressed gratitude to several local private sector companies for logistical support provided to state institutions following events in February. Those contributions were highlighted as examples of corporate social responsibility during national contingencies. The Cabinet concluded by referring several files to specialized committees for additional study and recommendations the Kuwait News Agency stated.

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ByNewsDesk
News Kuwait NewsDesk is the desk responsible for News Kuwait's daily news coverage, monitoring and reporting developments across the Gulf from official sources, including national news agencies and government communications. Its focus is accurate, timely and factual coverage of the region.
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