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Kuwaiti first half budget spending increased mostly on transfers and defense.
According to the latest economic brief published by National Bank of Kuwait, higher budget spending in the first six-month period of the fiscal year 2001/2002, came primarily from increases in transfers and miscellaneous expenditures, which rose 22 percent to KD 1.09 billion. More than half of this increase was accounted for by a rise in housing loan forgiveness, which was up by KD 62.5 million. Another KD 35.6 million was due to servicing the government's outstanding Government Debt Bonds used to purchase bad debts from the private sector. Increases of KD 39 million and KD ...
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