KUWAIT CITY, Nov 15: Kuwait may find itself in an economic mess if the current global financial crisis continues with the same tempo while petroleum prices continue to nosedive and the public treasury is further exhausted, reports Al-Watan Arabic daily quoting an economic analyst. Explaining the country judiciously used profits earned during the oil boom to replace the amounts taken from the Future Generations Fund in previous years, the analyst said Kuwait might be forced to spend its reserves if oil prices continue to fall below the budgetary benchmark. Kuwait has allocated KD 150 million for the housing allowance, KD 150 million for national manpower support, KD 800 million for the increments of Kuwaiti workers (KD 50 and KD 120 respectively), KD 130 military entitlement, and KD 100 million for the allowances of students at Kuwait University (KU) and Public Authority for Applied Education and Training (PAAET), the economic expert revealed.

Meanwhile, as per the demand of 22 MPs, the National Assembly will discuss the economic condition of Kuwait in the light of the global recession on Nov 19, reports Al Anba daily. Sources told the newspaper the government tends to hold the session privately. On Thursday many MPs presented several proposals, though voting did not take place due to lack of quorum. A proposal asking the Bedouns Committee to interrogate the citizenship cancellation case and another proposal demanding a discussion on the Audit Bureau’s report on the Russian loan were some of the important proposals tabled on Thursday. Sources said the MPs referred to the Amiri speech and launched a scathing attack against the executive authority, and threatened to grill the ministers of defense, communications, education and interior. For his part, MP Dr Daifallah Buramiah criticized the committee in charge of clearing encroachments in state properties. He asked about violations in Shuwaikh Industrial Zone and about farms and chalets at various locations.

MP Musallam Al Barrak raised the issue of the Russian loan, accusing the government of failing to realize the debt from Russia. However, France, Barrak said, has got back most of the loan it provided Russia, and the remaining will be received as foodstuffs. MP Marzouq Al Hebbini raised questions about the relation between the communication minister and some companies. MP Hussein Al Qallaf said he presented several questions to ministers, “but none of them have been answered yet.” He threatened to grill the ministers. MP Mohammed Al Obaid talked about the hindrances in the country’s developmental works, while MPs Abdullah Rae Al Fahma and Dr Hussein Quwain called for the resignation of Interior Minister after leveling accusations against him.