KUWAIT is at a vital stage now. Everyone is required to work in accordance with the directives of His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah in order to avoid ambiguity in any movement or activity, so the matter is not interpreted in a way other than what is intended. Therefore, working in ‘silence’ does not indicate sagacity; as it rather proves that the person who uttered this statement is not up to the huge responsibility placed on his shoulders.
Yes, this is His Excellency the Minister of Finance, who holds the most important portfolio in the country. He has sparked a lot of controversy with this provocative statement. It is as if he does not know that the basis of economic activity is reassurance -- whether in Kuwait or abroad -- about the measures that ensure stability first, and secondly, that those responsible for public finances provide everything which helps bring investments into the country.
However, if the concerned minister announces that he expects the deficit to reach about $85 billion in the next four years; and adds, “we are working in silence,” His Excellency should allow us to say: “This is not how things are handled in such a vital portfolio, which requires prudence in approaching matters, clarifying plans and explaining them in detail, as well as encouraging investments, not the other way round.” In this regard, there are observations on some of the ministers. The issue is not limited to the Minister of Finance. It is as if their selection was done in haste or they were reshuffled from the previous Council of Ministers; especially since some of them were friends of His Highness the former Prime Minister, so they are the untouchables. Thus, choosing a cabinet in haste is a major mistake. As we mentioned previously; the current stage is vital, because it is transformative in every sense of the word. His Highness the Amir has stressed this more than once. The ministers must live up to the expectations of His Highness first, and then the people of Kuwait.
Perhaps, His Highness the current Prime Minister did not have enough time to review those who have the ability to handle the sensitive files they are in charge of. This must be taken into consideration. Cabinet reshuffl e is an urgent necessity today, not tomorrow. We have no time to cry over spilled milk, because the ministers wasted time on matters that are not beneficial to the State. For some time now, we have been talking about diversifying sources of income, not just selling oil and spending, as such moves contradict all economic theories. On the other hand, other Arab Gulf states have diversified their national output for decades.
Today, they are reaping the fruits. They have become financial, economic and commercial forces with a global presence; while Kuwait continued the traditional pattern it inherited for 60 years. It is even declining in the financial and economic indicators, compared to its position before the Iraqi invasion; as if its financial situation has a puncture. This deflation cannot continue due to the presence of ministers who work in ‘silence’ or do not know what they should do. Some of them added many doors to wasting public money, while the living condition of citizens remains as it is. The salaries of employees have not increased for more than 14 years. Simply increasing salaries and improving the living conditions of citizens stimulate the financial and economic cycles. At this point, everyone must admit that the Kuwaiti sovereign wealth, which has reached approximately $900 billion, suffers from stagnation or lack of experience in managing it according to what is required to maximize the national product.
It needs experts in finance, economics and trade who understand what it means to exploit opportunities. It is also necessary to update the laws and ensure that they live up to the ambition of His Highness the Amir, who informed us about the tremendous work that awaits Kuwait in order to surpass its counterparts in the Gulf region. For all of these reasons, the current Council of Ministers is forbidden from failing. It should get rid of those who work as if they are managing a ‘grocery store’. Whoever does not work to achieve the goals set by His Highness the Amir must cut himself loose, as this is not the time for ‘silent’ work or the policy of sleeping in honey.
By Ahmed Al-Jarallah
Editor-in-Chief, the Arab Times
