Kuwait’s Economy in Crisis a Sideshow as Nation Goes to Polls - Bloomberg
Kuwaitis get another chance Saturday to do something rare in the Arab Gulf -- elect lawmakers with a real say in how their country is run.
Yet it’s hard to detect much enthusiasm. The parliamentary election comes at a make-or-break moment for an economy reeling from lower oil prices, the pandemic and stalled reform. But rescue efforts are stuck as a government appointed by Kuwait’s ruler and lawmakers with enough power to probe and delay legislation disagree over the best way forward.
The nation’s financial plight was often a sideshow in campaigning, as candidates pledged to write-off personal loans or protect salaries even after warnings the Treasury is running short of cash and as parliament blocks plans to borrow overseas.
“The issue of utmost importance, diversification of the economy, isn’t really being discussed,” said Ayed Al-Manna, a political analyst and columnist. “There’s no systemic plan to transform the country.”
Kuwait is a key member of OPEC and plays an outsized role in mediating regional disputes, including recent efforts to heal a rift between regional powerhouse Saudi Arabia and major gas exporter Qatar.
Some 568,000 Kuwaitis, just under half of the citizen population, are eligible to choose from 326 candidates, including 28 women, vying for the National Assembly’s 50 seats.
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