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Ministry intends to grant cash subsidies directly to citizens ‘Kuwait economic policies facing several challenges’

KUWAIT CITY, July 5: Minister of Finance Anas Al-Saleh said the government has taken steps to address financial and economic issues, asserting his ministry continues to exert tremendous efforts to control public expenditures and ensure subsidies are given to the rightful beneficiaries, reports Al-Jarida daily. Al-Saleh revealed the ministry intends to grant cash subsidies directly to the citizens, instead of giving them indirect subsidies.

In a report he submitted to the National Assembly recently, Al-Saleh said the executive authority will reform the economy through the realization of strategic goals. He disclosed the authority will lay down financial policies to restructure the financial system, support transparency, and strengthen territorial and international collaboration. He stressed the government is serious in applying the modern management system and finding appropriate solutions to address the financial and economic issues in various institutions.

He explained this will be done by granting financial support to newly-hired national workers. He added the government intends to maintain its effective and permanent role in monitoring public funds, developing real estate properties and increasing revenues. He further said the country’s general economic policies are facing several challenges, particularly in activating the role of the private sector to be pivotal in national development; as well as to become a major producer, provider of jobs to citizens and creator of an atmosphere conducive for direct foreign investments.

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