Prime Ministers In Kuwait’s Democratic History

12 December 2020 Information

The government has had eight prime ministers at the helm since the country began its democratic journey in 1962. The founding father of Kuwait’s democratic march, the late Amir Sheikh Abdullah Al Salem Al-Sabah was the first prime minister heading the country’s first democratic government in January 1962. The 2nd, 3rd and 4th cabinets, between January 1963 and November 1965, were led by the late Amir Sheikh Sabah Al-Salem Al-Sabah.

The late Amir chaired The 5th, 6th, 7th, 8th and 9th governments between December 1965 and December 1977 were headed by the late Amir Sheikh Jaber Al-Ahmad Al-Sabah before he became the 13th Amir of Kuwait. Late Father Amir Sheikh Saad Al-Abdullah Al-Sabah was the longest serving prime minister having chaired the 10th to the 20th governments from February 1978 to February 2002.

The late Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah chaired the 21st government in 2003, until the passing away of the then Amir Sheikh Jaber Al-Ahmad in 2006. His Highness Sheikh Nasser Mohammad Al-Ahmad Al-Sabah then took over as prime minister, chairing the 22nd to the 28th governments between February 2006 and December 2011.

His Highness Sheikh Jaber Mubarak Al-Hamad Al-Sabah took over the helm of the 29th to 35th governments between December 2011 and November 2019, while the incumbent prime minister took charge of the 36th government in 2019 and has now been appointed as prime minister to head the 37th government.

Meanwhile, a report by the Central Bank of Kuwait on second-quarter balance said that the country’s current account surplus dropped by over KD100 million relative to the first-quarter of the year.

Kuwait recorded a current account surplus of KD 108 million (USD 357 million) in the second quarter of 2020, the Central Bank of Kuwait (CBK) said on Wednesday.

The surplus fell by KD 112 million (USD 369 million) from the KD 220 million (USD 726 million) recorded in the earlier quarter, representing a 50 percent drop, according to a press release.

The drop is due to a dip of KD 2.2 billion (USD 7.2 billion) in the value of total earnings in the credit side of the current account, and a fall of KD 2.1 billion (USD 6.9 billion) in the value of the total payments in the debit side, it added.

The commodity balance surplus also dropped by KD 318.6 million (USD 1 billion) to KD 1.6 billion (USD 5.2 billion) compared to KD 2 billion (USD 6.6 billion) in the first quarter.

The balance for services dropped 78.5 percent by KD 1.2 billion (USD 1.9 billion) to KD 354.9 million (USD 1.1 million).

The current account consists of visible trade (export and import of goods), invisible trade (export and import of services), unilateral transfers, and investment income (income from factors such as land or foreign shares).

The current account gives economists and other analysts an idea of how the country is faring economically. The difference between exports and imports, or the trade balance, will determine whether a country’s current balance is positive or negative. When it is positive, the current account has a surplus, making the country a “net lender” to the rest of the world. A deficit means the current account balance is negative. In this case, that country is considered a net borrower.

 

SOURCE: TIMESKUWAIT

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