The Economist magazine shed light on the recent political situation in Kuwait, against the background of the differences between the two authorities that led to the government’s resignation, while it stated that the populist plan to pay off citizens’ debts is a new sign of the problems that Kuwait is experiencing.
The Economist said “Kuwait now has the highest youth unemployment rate in the Gulf, where at least one in six citizens is unemployed, while citizens complain about everything from potholes in the streets to the poor state of public education and health care.”
The magazine pointed out that the current period should be “times of prosperity for Kuwait,” pointing out that Kuwait ranks tenth as the largest oil-producing country in the world, as it pumps about 2.8 million barrels per day, and it is a small country with a population of no more than 4 million people, less half of them are citizens.
The magazine went on to say: “The International Monetary Fund confirms that the gross domestic product grew by 8.7% last year, as its sovereign wealth fund is one of the largest funds in the world, and the government debt-to-GDP ratio of 7% is the lowest among the sovereign funds in the world. Dysfunctional politics have been obstructing Kuwait and its development plans for a long time.”
