​KUWAIT: Budget passes despite opposition resistance

GULF COUNTRIES - Report 22 Jun 2021 by Justin Alexander

The National Assembly today narrowly passed the 2021/2 budget, despite the abstention of most MPs. The opposition has suggested that the Assembly might not be put into recess for the summer, during which the government could pass a debt law and fiscal reforms by decree. We think the reforms, although urgently needed, are unlikely, although there is a chance for a debt law depending on how depleted the general reserve fund actually is. Either way, this would only be a short-term fix, and a political compromise is needed that trades some of the opposition's political wish list, such as an amnesty, for support of fiscal reform.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.