The huge imbalance in the state’s public finances and liquidity drain in the budget of the general reserve is surprising at a time when a majority of Gulf countries have shown surpluses, benefiting from oil prices and the growth of tourism revenues, with the exception of Kuwait.
Sources told Annahar that they were astonished that 63 billion dinars have been depleted from the state’s general reserve in 7 years, explaining that the most prominent imbalances are represented in the unfairness of salaries, exceptional cadres and pensions, allowances and privileges, and other introduced items that prevented the general budget from achieving the surpluses that were expected with the rise in oil prices.
Sources indicated that the Gulf countries have shown surpluses once again due to the large and gradual reforms in all sectors, and according to purely professional and scientific standards that were applied on the ground and benefited the state and citizens.
Sources are of the opinion that the lack of transparency and condoning the negligent to hold to account are among the main reasons for the decline in development projects that suffer from a sterile documentary cycle and a great absence of coordination between the authorities and added, the outcome of the four years extending from 2020/2021 to 2023/2024 was disappointing and resulted in financial deficits amounting to 19 billion dinars.