Our Country Is In Danger!

THE headline “Our Country is in Danger!” was published on the front pages of all the Kuwaiti newspapers. It was the headline of a report released by the Kuwait Chamber of Commerce and Industry last Wednesday, highlighting the need for urgent economic reforms based on three clear objectives – giving a stronger role to the private sector and realizing this sector’s importance in the forthcoming economic reforms and allowing it to fulfill its role, ensuring protection of Kuwait’s sovereign wealth funds, and lastly demographic restructuring by reducing expatriate workforce.

Following the new elections and with the new parliament, the number of articles and opinions regarding Kuwait’s economy has been increasing including in the British The Economist, which may be sponsored by the government. Nevertheless, all are calling for greater reforms, and it is time to do something out of the box.

The call is for giving priority to impose some form of taxation including value adding tax, but not on those with limited income particularly the government employees.

The document issued by the Kuwait Chamber of Commerce and Industry is more elaborate and detailed, extending into every sector, such as the need to reform education and health sectors, distribute lands that are mostly 90 percent owned by the government, and controlling most of the economic activities, postal sector, airport and

 

SOURCE : ARAB TIMES

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