Al-Shall highlights significance of current government program
The weekly report from Al-Shall highlights the significance of the current government’s program in addressing the economic and financial challenges faced by Kuwait.
It emphasizes the government’s awareness of the urgent need for reforms, particularly in managing public finances and combating corruption. The report underscores the importance of diagnosing the root causes of economic issues and setting realistic targets to address them effectively, reports Al-Qabas daily.
From a diagnostic perspective, the report acknowledges the government’s recognition of the unsustainable nature of current financial and economic policies. It highlights the risks associated with high public spending, declining GDP growth, and excessive reliance on oil revenue. The report stresses the need for immediate action to extinguish the “public finance fire” and implement structural reforms to restore fiscal balance.
In terms of targets, the report applauds the government’s focus on managing liquidity wisely, combating waste and corruption in public spending, and implementing a gradual tax system to diversify revenue sources. It also emphasizes the importance of opening partnerships with the private sector to stimulate economic growth and create employment opportunities outside the public sector.
However, the report also raises several observations and recommendations for the government program. It calls for strengthening the management of the sovereign fund to ensure sustainable income generation, restructuring or dissolving redundant government bodies to reduce waste, and avoiding the establishment of new government entities unless absolutely necessary.
Furthermore, the report criticizes the misplaced priorities in public discourse, citing the controversy over the implementation of a fingerprint system for teachers as an example. It argues that genuine concerns about education quality and integrity should take precedence over resistance to administrative reforms.
Overall, the report commends the government’s awareness of the need for reform and urges decisive action to address the country’s economic challenges. It emphasizes the importance of implementing the proposed measures effectively to restore fiscal stability and promote sustainable economic growth in Kuwait.
