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Thursday , April 22 2021

Tell people the party is over

The Chamber of Commerce and Industry never stopped sounding the alarm preceded by every sincere and loving person who loves the nation, including Al-Qabas. All of them kept warning of the unknown future of the state in light of all this economic confusion and administrative chaos in which we live.

Who believes that a country like Kuwait, which was the strongest, most pompuous and best in its surroundings until recently could be all this reluctant to take a quick and firm decision related to addressing the urgent and exacerbating deficit in its budget, and addressing structural imbalances for almost a year, and developing a clear-cut and applicable economic plan.

The government does not want to believe that the age of oil is a thing of the past or is nearly on the way out and it is necessary to think seriously about finding alternative sources of income. The Japanese companies, Tesla, Apple and others compete daily to produce the best batteries and electric cars, and gradually reduce dependence on oil in the medium- and long-term to almost zero.

The legislators at the beginning of independence were wise when they decided to withhold and invest 10% of the oil income to ensure the future of next generations. How, after 60 years, with increased risks and an increase in population, have we become less prudent and wise than they were?

The invested money collected with the state may not last for more than five years, if the government spending continues at its current pace. Consequently, it is necessary to think seriously about reducing expenditures and creating other sources of income, whether industrial or tourism and this or that cannot succeed or achieve returns if the government administration insists on its conservative approach, and the continued intellectual and commercial closure and keeping the state hostage to backward religious political forces that believe that no one else knows the truth and permits themselves to enjoy everything and forbid others to do ‘that’, so they send their children to study in the West and ask others to send their children to Peshawar.

We are living in a real economic crisis, the public budget is impotent, billions of reserves have completely dried up, and the government has begun to liquidate some assets, and despite this, waste continues and our sovereign ratings are also constantly declining, even our old distinguished financial institutions are suffering from low ratings. It is really painful that the solutions exist, but they are not easy and I do not know when the surgeries were an enjoyable tourist trip?

We need a strong ministry and statesmen who are able to take a package of decisive decisions that turn our economic and living situation into something safer for us and our children after us.

All global institutions and international indicators have warned us for more than five years about the continued deterioration of our financial situation, and the need to take unpopular measures. As for continuing with the saying “the citizen’s pocket is not touched”, will lead us to a catastrophe as every solution that costs a billion today will cost more tomorrow.

The government is under obligation to be clear to the people about the reality of the situation and tell them that the era of prosperity has ended, and that we must realize that and act accordingly.

Relying on Parliament to avoid collapse is a recipe for ruin. Most of its members are either far from the economy or they are not inclined to solutions that may affect income of government employee in particular and that the continuing waste will cost this employee much more than others if the warnings we receive every day and from every direction continue to be ignored.

email: a.alsarraf@alqabas.com.kw

By Ahmad alsarraf

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