The International Monetary Fund (IMF) called on Kuwait to tighten fiscal conditions and phase out large energy subsidies to cut spending.
According to the IMF, Kuwait should significantly consolidate public finances through measures on both the non-oil revenue and expenditure sides. In order to reduce current spending, it will be necessary to rationalize the public sector wage bill, as well as eliminate large energy subsidies, replacing them with income subsidies for low-income households. Versus a 5 percent value-added tax to increase non-oil revenues.
Source (Asharq Al-Awsat Newspaper, Edited)
