The Kuwaiti government warned in its new work program that Kuwait faces a "serious exceptional challenge", in light of the fluctuation of crude prices and the dependence of public finances on it as the only source of income.
According to the program document, this challenge threatens the ability to continue to provide citizens with a decent life and their basic needs, and also threatens the inability to meet local and international obligations.
The government expects the expected budget deficit over the next five years to be between 45 and 60 billion dinars ($146.1 billion to $194.8 billion) without economic and financial reform proceeding. Government funding requirements are expected to double in 10 years and the average budget deficit will reach $42.2 billion in 2033.
Source (Al-Arab Newspaper of London, Edited)
