In an extraordinary meeting of the cabinet held yesterday at Bayan Palace and chaired by His Highness the Prime Minister Sheikh Nasser Al-Mohammad Al-Sabah, the cabinet members discussed Kuwait's financial status for the fiscal year that ended on March 31, 2011.
Following the meeting, Minister of State for Cabinet Affairs Ali Al-Rashid stated that Minister of Finance Mustafa Al-Shamali, along with the Managing Director of the Kuwait Investment Authority Bader Al-Saad and senior ministry officials, provided the cabinet with details of the state's financial status, including liabilities, and statements on the future generations fund and public reserve for 2011 in comparison to the corresponding period in 2010.
The ministers then discussed the best means to channel the state's revenues, as well as searching for new sources of income, also conferring on cutting down on expenditures and managing financial waste in all aspects, Al-Rashid noted.
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