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Decisive action taken over financial waste, says minister
June 27, 2018, 5:13 pm

 The Kuwaiti government has taken concrete steps to eliminate financial waste and cut down on overspending, Finance Minister Dr. Nayef Al-Hajraf said on Wednesday. The Kuwaiti minister's remarks came as he chimed in during a debate in parliament's session over a report by a committee dealing with budgets and final accounts in government bodies.

"Citizens will be convinced to reduce financial waste only if the government shows serious commitment to address this issue," the Kuwaiti minister said. On "concrete efforts" the government has taken to keep overspending in check, Al-Hajraf revealed a trimmed state budget of KD 21.5 billion (USD 71 billion), which is down from the initial estimate of KD 26.7 billion (USD 88 billion).

He also revealed that non-oil revenues collected from taxes were worth KD 230 million (USD 759 million) in the 2016-2017 fiscal year budget, only for that figure to rise a year later to KD 344 million (USD one billion).

Meanwhile, Al-Hajraf cited a recent employment boom in government bodies, where around 18,000 Kuwaitis have landed jobs in that sector, which is part of a national plan for economic sustainability. 

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