Kuwait Govt Plans To Cut State Expenditure By 25 Percent

Kuwait’s government has revealed plans to cut state expenditure by 25 percent in the state budget. The plans were discussed in a meeting between the government and the National Assembly’s financial and economic affairs committee this week, though the parties did not agree on a final decision.

The head of the committee, MP Faisal Al-Shaye, said the government expects to save up to $4 billion (KD 1.2 billion) by reducing subsidies and raising prices of petrol and electricity.

However, Al-Shaye said lawmakers have proposed excluding Kuwaitis from the price hikes and that a meeting will be held on Thursday to discuss the issue. As part of the proposal, citizens with driving licences will be compensated through coupons based on a monthly consumption of 220 litres per citizen.

Al-Shaye said another meeting will be held on Thursday to discuss the issue.

Kuwait’s government revealed that the squandering in electricity consumption is estimated to be 30 percent. It said consumption categories have been proposed to cut wastage.

 

SOURCE : ARABIANBUSINESS

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