Wednesday 18 July 2012

UPDATE 2-Kuwait's NBK blames political deadlock for hurting economy | Reuters

The head of Kuwait's biggest bank blasted the country's political deadlock in a rare public outburst for the Gulf Arab region, underscoring business leaders' frustration with an impasse that has delayed much needed economic development.

Kuwait has seen eight governments come and go in just six years due to bickering between the parliament and cabinet. The last government resigned in June after Kuwait's constitutional court dissolved a parliament elected in February.

Fresh elections are expected to be held after the holy month of Ramadan, due to begin later this week.

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