The weekly “Al-Shall” report warned of the consequences of the current economic situation in the country, pointing out that Kuwait is currently being run by an interim government that has resigned since January 26, 2023, and before that it was paralyzed, and it will be temporary even after its formation, in addition to an annulled National Assembly, and the alternative is temporary, and this applies to sensitive bodies with boards of directors whose term has expired, i.e. temporary.
The report pointed out that most of the leadership positions in the public sector that directly dominates 70% of the economy are mandated, i.e. temporary.
Al-Shall said the world is going through a state of difficult labor, and Kuwait is the tent of one pillar, or oil and its savings, and the two have fallen in price and value, and are threatened with further decline in the future. The internal discord does enable it to agree to support the only pillar that is severely shaken by the miserable local economic and financial approach, which is at the forefront of waste, corruption and excessive populism.
Al-Shall stated that Kuwait is the most exposed to the world, and depends on oil, whose prices fell between the beginning of the last and current fiscal year by about 20.9%, and its production decreased during the same period by about 9.4%, while public expenditures for the current fiscal year increased by 11.7%, and 90% of it is financed from oil revenues, whose price and production are eroding, and the current part of expenditures has increased to about 90.5%.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
