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Thursday , January 28 2021

Future outlook iffy as election ‘looms’

THE parliamentary elections are scheduled to take place next week. The expectation is that few changes will take place with low participation due to COVID-19. Therefore, everything will remain the same, and the full burden will fall on the government.

Kamel Al-Harami

No new ideas are being raised by about 400 candidates running this time. Most, if not all, of them have not touched any topic regarding our future economy and the weak oil prices, or about how to manage the future economy of Kuwait.

They have also not raised the problem of finding jobs for new graduates, the numbers of which reach 25,000 every year. It is shocking that even the new young candidates have not discussed or raised such important topics affecting our future and that of the future generation. Is it reluctance? Or are they passing the “buck “to others? How is such a topic being ignored without any reference to the future?

What will happen to the future of Kuwait since the annual deficit is on the rise, and there are still no solutions in hand? The current oil price can hardly meet our budget requirements. It is very unlikely that prices ranging from $75 to $90 per barrel can be achieved in the coming three-five years. Our budget for the next year will be based on $ 30 a barrel, which can hardly meet 50% of our deficits.

How can we face the new economic challenges when none of the candidates raise any issue in this regard, not even on how to meet the shortage of cash currently and in the future years? On the contrary, all are pushing for the comfort of the citizens and not touch their pockets or any current financial advantages. Many promise to increase the incentives and subsidies, ignoring our shortage of cash and deficits of more than KD 10 billion for this year. It is very disappointing that our National Assembly candidates are not facing or telling the truth about our country.

They simply don’t want to say and communicate openly and frankly with their voters. Perhaps, being frank and honest is not acceptable during the election time. So they choose to leave it under the carpet for the future dates. According to them, it is now time to make their voters happy, and win a seat.

By Kamel Al-Harami Independent Oil Analyst
Email: naftikuwaiti@yahoo.com

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