The Kuwaiti cabinet approved an economic package that included a set of recommendations related to addressing the economic repercussions resulting from the Corona crisis, as the cost amounted to about $5 billion as a first phase, to be followed by new measures in later phases.
The cabinet also approved a decision to form a supreme committee headed by the governor of the Central Bank to put the incentive pillars of the economy into practice.
It also adopted a set of recommendations, the most prominent of which is to help small and medium-sized enterprises by postponing the installments funded by the Projects Fund and the Agricultural Finance Portfolio.
The recommendations also included the provision of loans on concessional and long-term terms for projects, as well as a commitment to protect citizens’ incomes, and support the salaries of those registered in Chapter Five of the Insurance Institute.
The Council of Ministers based on the approval of this economic package on a set of scenarios aimed at preserving the public money, rationalizing its use, and ensuring the continuity of the economic activity, and not compensating companies or individuals.
Source (The New Arab Newspaper, Edited)
