gulfnews : Addressing inadequacies of Kuwait economy

In notable remarks last week, the Emir of Kuwait, Shaikh Sabah Al Ahmad Al Sabah, pinpointed key challenges encountering the Kuwaiti economy. He called on economic policymakers to rectify shortcomings relating to the state budget and the private sector's role.

The comments were made in the context of pressing decision makers to cope with global economic challenges including debt problems facing the US and several EU countries.

Kuwait's public finance is more dependent on oil revenues than the rest of the Gulf Cooperation Council (GCC) countries. The petroleum sector at large including oil refining and gas sales proceeds accounts for some 85 per cent of treasury income.

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