Friday , September 22 2023

IMF criticizes Kuwait’s several government institutions

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KUWAIT CITY, Nov 21: The International Monetary Fund (IMF) has criticized several government institutions because data and statistics were not available to help understand the country’s economic policies, reports Al-Jarida daily. The daily said, during its mission to Kuwait the IMF found two institutions that came for severe criticism were the Central Administration of Statistics and the Ministry of Finance — the first for not issuing monthly consumer price data on inflation for about 5 months and not issuing estimates of the quarterly GDP since the end of last year, and the second for not activating the work of the macroeconomic management and fiscal policy in the ministry, which was established in 2009 after an agreement between the Ministry of Finance and IMF, with the aim of setting up a mechanism for the main economic expectations in the short term, developing and maintaining a database for the ministry, and benefiting from economic data issued by those interested in macroeconomic analysis.

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