The Kuwaiti Cabinet decided to assign the Ministry of Finance to coordinate with all government agencies to reduce their budget for the fiscal year 2020-2021 with a minimum of 20 percent. This came in an exceptional meeting held by the Council of Ministers through video communication, during which they had an explanation provided by the Minister of Health on the health situation in the country, expressing his satisfaction at the high rate of recovery from those infected with the new Coronavirus.
The Council of Ministers was informed of the recommendation of the Economic Affairs Committee regarding the second paper (public finance) for reforms and proposals for financing the budget prepared by the Ministry of Finance, and which includes a table of financial reforms required to be approved by legislative or executive tools.
The Council decided to entrust the Ministry of Finance in coordination with all relevant authorities to take the necessary measures to issue it with the appropriate legal instrument and to provide the Cabinet with what it ends up within two weeks of its date.
The Cabinet also decided to approve the proposal of the Ministry of Finance regarding not increasing the capital of entities with independent budgets such as bodies, institutions and funds for a period of five years. It also decided to instruct the Ministry of Finance to coordinate with all government agencies to reduce their budget for the fiscal year 2020-2021, with a minimum of 20 percent.
Source (Al-Rai Newspaper-Kuwait, Edited)
