Delaying financial and economic reforms will put the future of Kuwait's growth in a difficult position, said Dr. Bader Malallah, Director General of Arab Planning Institute (API).
The delay will have a negative impact on the government's ability to expand in the construction of public facilities, infrastructure, and development projects, Malallah told KUNA Wednesday.
The General State budget is threatened by a huge deficit due to decline in oil prices, he added.
Malallah said that there were great efforts made by various government bodies to support small and medium businesses as a key factor in economic growth.
In regard to steps taken aby Arab Planning Institute, Malallah said that the institute offered training programs for small and medium size businesses including workshops and seminars which were held in cooperation with various sides.
The Arab Planning Institute (API) is a non-profit regional organization whose primary mission is to advance the cause of economic and social development in the Arab countries through National Capacity Building, research, Institutional Support and consultancy, expert-group meetings and publication.