The Council of Ministers withheld the first government session and decision to issue necessary decrees joining ministry and departmental budgets following the dissolution of the National Assembly and oath taking ceremonies. The move to retain the linking of budgets of respective government bodies and independent institutions for the fiscal year 2022-2023 has been decided upon in order to wait for the next elections and approval by the Parliament.
After a meeting at the Seif Palace, the Minister of Finance and Minister of State for Economic Affairs and Investment Abdulwahab Al-Rasheed said the postponement was determined under the direct order of Prime Minister Sheikh Ahmed Al-Nawaf, who expressed it was made out of respect for the nation’s right to monitor and approve budget, according to his statement with a credible source.
Al-Rasheed stressed the move was in compliance with the decision of His Highness, the Crown Prince, Sheikh Mishaal Al-Ahmad to dissolve the National Assembly and call for general elections. This was based on Article 107 of the Constitution mentioned in his speech on 22nd June in a bid undertaken by His Highness the Amir Sheikh Nawaf Al-Ahmad. According to Article No. 145 of the Kuwaiti Constitution, the previous year’s budget will be implemented until a bill to join budgets for the current year is issued, showing the difference between the two budgets amounting to only KWD 17 million, which is equivalent to about USD 55 million.
According to Al-Rasheed, the expected expenditure in last year’s budget amounted to KWD 23.048 billion, about USD 75.200 billion, while the expected expenditures for the 2022-2023 budgets totaled KWD 23.065 billion, which is about USD 75.250 billion.
Al-Rasheed said it is possible to approve the budget before next November, while setting a reminder to continue all current commitments, contracts, project spending and procedures for appointing government agency officials. He also explained that the cabinet is gearing up to discuss in the upcoming sessions with newly-appointed council members the country’s financial situation.