(Bloomberg) -- Kuwait forecast a narrower budget deficit for the fiscal year starting April 1, due to buoyant oil prices.

The deficit -- which would be the ninth in a row -- is projected at 3.1 billion dinars ($10.3 billion), much narrower than the current year’s estimate of 12.1 billion dinars, according to the Finance Ministry. Spending is seen at 21.9 billion dinars.

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