Saudi Arabia has been on a fast-paced cycle of reform for the past decade. In the past, Kuwait used to be the leader of the Gulf in everything. Fifteen years ago we envied the Emaratis for Dubai. Ten years ago it was Bahrain, five years ago it was Qatar, and now it is Saudi Arabia. King Abdullah of Saudi has been leading a major overhaul; an economic evolution.
Refer to the list below for the major achievements:
Today Kuwait is starting to move. There is hope. The government hadn’t formally presented to the Parliament a 5-year since 1986, but it did this year. There is a massive infrastructure budget that seems to be going the right way. A Capital Markets Authority law will be enacted. The government rejected appeals for loan forgiveness and was prudent enough not to splurge money at paper investment companies. I hope someone will be posting a 10 year reform chart as solid as Saudi’s for Kuwait in the near future.
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