It will also borrow up to 2 billion dinars in debt from the domestic market in conventional and Islamic instruments, said Anas al-Saleh, who is also deputy prime minister and acting oil minister, according to an emailed speech.

The remainder of the expected 9.5 billion dinar budget deficit for the current fiscal year, which began on April 1, will be covered by drawing down funds from the general reserve, he said in the speech. ($1 = 0.3016 Kuwaiti dinars)