Kuwait’s cabinet finally passed a $5.2bn economic stimulus package on Thursday after a dissolution of its fractious parliament allowed the government to implement the bill unopposed.
The package had previously stalled due to bickering between the cabinet, most of whose members come from the ruling al-Sabah family, and the combative Islamist-dominated parliament, which wanted to question Sheikh Nasser al-Mohammed al-Sabah, the prime minister, over allegedly misappropriating public funds.
Despite its vast oil reserves and $200bn sovereign wealth fund, Kuwait has been one of the Gulf countries most severely affected by the financial crisis. The parliament had delayed several economic laws and rescue bills, finally spurring the emir to dissolve the elected body last week.
No comments:
Post a Comment