470 mln dinars spent on Kuwait govt projects since ’23

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KUWAIT CITY, May 1: The percentage of government spending on development projects increased in the last months of the fiscal 2022/2023 to 35.8 percent, after the total spending on projects reached about 470 million dinars out of the total 1.3 billion dinars allocated by the general budget for spending on projects, reports Al-Qabas daily. The statistics issued by the concerned authorities indicated that the projects that are in the delivery stage increased from 10 to 12, while there are about 57 projects in the implementation stage and approximately the same number in the preparation stage, should these projects be included in the current fiscal 2023/2024.

The Ministry of Finance, in its latest circular, called on all concerned regulatory authorities to give priority to the projects which are on the annual development plan and to quickly complete their procedures, stressing the need for government agencies to start taking necessary measures to implement development projects included in the new fiscal year, according to what is planned, as of the beginning of the fiscal year.

The Finance Ministry has authorized government agencies to take appropriate steps procedures to fl oat tenders and special practices contained in the draft budget submitted to the National Assembly, provided that awarding and contracting procedures are not completed except after the approval of the estimates by the parliament or the issuance of the law linking the budget for the fiscal year. Official figures showed the inclusion of about 239 development projects planned for implementation during the fiscal 2023-2024, at a total cost estimated at 955.4 million dinars, with about 41 different entities participating in their implementation, which includes developmental, construction and strategic projects. The Council of Ministers has completed the formation of five ministerial committees, so that each committee begins its work. In a step that reflects the government’s interest in the completion of development projects and follow-up on the steps of their implementation, the new government initiated its first meeting by approving the formation of a ministerial committee to follow up the implementation of major development projects.

Relevant sources confirmed that the financial and executive capacity alone are not sufficient to advance the implementation of new projects, as the implementation process needs about 37 pieces of legislation between a number of new laws or amending existing laws, which pushes towards the need for cooperation between the two executive authorities for the completion of major projects. The sources indicated that development projects in Kuwait are also facing difficulty in terms of completion, due to the delay in approving the new draft budget, which is a major reason for delaying the progress of government projects within the development plan, and thus falling behind the stipulated dates, which also negatively affects project completion rates. itself, and increases wasted time, thus wasting a lot of opportunities.

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