CAIRO: Kuwait's finance ministry said on Monday it had submitted a draft 2022-2023 budget with an expected deficit of 3.1 billion dinars ($10.26 billion), down 74.2% from the previous year.

The Gulf OPEC member sees oil income at 16.7 billion dinars throughout the financial year that ends in March 2023, up 83.4% from 2021-2022, according to a ministry statement.

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Total revenues were estimated at 18.8 billion dinars, and expenses at 21.9 bln dinars in the financial year 2022-2023. Reuters