Budget Decisions Are Put On Hold By Ministers

After the National Assembly was dissolved and the oath of office was taken, the Council of Ministers delayed the first government meeting and decision to issue the required orders joining ministry and departmental budgets. In order to wait for the upcoming elections and Parliament approval, the decision has been made to continue tying the budgets of the relevant government agencies and independent entities for the fiscal year 2022–2023.

The postponement was decided on by direct order of Prime Minister Sheikh Ahmed Al-Nawaf, who stated that it was made out of respect for the nation's right to monitor and approve the budget, according to his statement following a meeting at the Seif Palace, according to Minister of Finance and Minister of State for Economic Affairs and Investment Abdulwahab Al-Rasheed.

Al-Rasheed emphasised that the action was in accordance with the Crown Prince's decision to dissolve the National Assembly and call for general elections. This was based on Article 107 of the Constitution, which was brought up in His Highness the Amir Sheikh Nawaf Al-speech Ahmad's on June 22. The previous year's budget shall be implemented until a bill to combine budgets for the current year is produced, as stated in Article No. 145 of the Kuwaiti Constitution. This difference between the two budgets is just KWD 17 million, or roughly USD 55 million.

Al-Rasheed estimates that the anticipated spending for the budget for the previous year was KWD 23.048 billion, or roughly USD 75.200 billion and that the anticipated spending for the budgets for 2022 and 2023 was KWD 23.065 billion, or around USD 75.250 billion. Al-Rasheed stated that it is conceivable to pass the budget before next November, but he also issued a reminder to continue with all ongoing commitments, contracts, project expenditures, and official appointment processes. He added that the cabinet is preparing to talk about the nation's financial condition with newly appointed council members in upcoming meetings.

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