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Friday , December 6 2019

Govt studying ‘proposals’ to involve Kuwaitis in ownership of institutions

Bid to reduce burden on State budget

KUWAIT CITY, Jan 13: Government economic institutions are studying proposals to involve citizens in the ownership of hundreds of economic and service institutions in order to reduce burden on the State budget and lessen criticism on the quality of public services such as education, health and others, reports Annahar daily.

Sources told the daily that this trend comes within the framework of the government’s desire to increase the productivity of citizens in the public sector and to involve them in formulating the national development vision in light of the adoption of the new strategy for 2035, the most important of which is the active involvement of the private sector in development.

Sources added the introduction of citizens as government partners to increase their productivity will enhance the gains of public institutions and lessen pressure on the government to increase wages and salaries, which have become cumbersome on the general State budget and eat up the public reserves.

Sources said the government is turning from a reader of important economic studies and recommendations into an executor in light of the economic and global changes that are pushing everyone to make radical changes in the legislative and financial structures to immunize economies from successive recessions, especially the oil producing countries whose development plans are at the mercy of price fluctuations.

It is worth mentioning that the price of a barrel of oil witnessed a sharp decline in the last two months from $86 to $57 per barrel, which negatively affected the budgets of Gulf countries including Kuwait.

Oil revenues are expected to decline significantly, so it will bring back the budget deficit again. Sources pointed out the oil price decline means prioritizing once again the implementation of financial and economic reforms which entail diversification of income sources, developing non-oil government revenues, continuing the limitation of public expenditures and reducing executive decisions that could drain public funds

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