Minister of Finance and Minister of State for Economic Affairs and Investment Abdulwahab Al-Rasheed has issued new rules regarding government for fiscal 2022/2023.
The minister has stressed all government agencies stay away from making any transfers and stop putting pressure of the state’s general budget and control expenditures and this includes change orders on construction and maintenance projects and called on government agencies to abide by Civil Service Council Resolution No. 2 of 2022 regarding the rules, conditions and controls for entitlements in the area of cashing balance earned leave during service.
The circular touches on a number of items related to the implementation of the new budget, the most important of which are:
- The commitment to implementing the development plan projects in accordance with the plan in order to increase the economic growth and social and political goals mentioned in the plan.
- Government agencies should take immediate measures to collect the accrued revenues and debts accumulated for previous fiscal years.
- All government agencies should not issue any decisions that result in adding new financial burdens to the state’s general budget without referring to the Ministry of Finance to study them and express their opinion on them.
- Commitment to the observations of the Audit Bureau, responding to them and working to avoid them as soon as possible.
- Inventory and evaluation of the state’s real estate properties inside and outside Kuwait.
- Implementation of the annual development plan projects as planned in a way that contributes to increasing growth rates and addressing structural imbalances in the economy, in particular increasing the contribution rate of non-oil revenues, increasing investment spending and limiting current spending.
- Commitment to the law of the right of access to information, in application of the principle of transparency and integrity in economic and administrative transactions, in order to ensure the rational management of state funds, resources and property.
- Commitment to the necessity of having a clearance certificate to pay the companies’ contributions to the Kuwait Foundation for the Advancement of Sciences within the documents that must be available when the joint stock companies submit to government tenders.
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