Tuesday 28 December 2021

#Kuwait Appoints Al-Rushaid as Finance Minister in New Cabinet - Bloomberg

Kuwait Appoints Al-Rushaid as Finance Minister in New Cabinet - Bloomberg

Kuwait’s prime minister appointed his fourth cabinet in two years, naming a new finance minister and including four lawmakers in the lineup in an effort to break a political impasse that has held back economic reforms in the oil-rich Gulf nation.

Abdulwahab Al-Rushaid, a known critic of the government’s fiscal policies, becomes finance minister, replacing Khalifa Hamada, state media reported. Al-Rushaid was head of the Kuwait Economics Society, which represents the views of private sector business people.

Hamada, like his predecessors, had struggled to change Kuwait’s spending habits due in large part to a lack of support from senior policy circles. Political dysfunction has led to a revolving door at the critical ministry, with ministers rarely lasting long in office. Al-Rushaid is the sixth person to hold the portfolio in just under eight years.

Mohammed Al-Fares retained his position as oil minister in a cabinet that took five weeks to form. As Prime Minister Sheikh Sabah Al-Khaled Al-Sabah sought to appease all political groupings, many declined posts due to persistent parliamentary pressure on ministers and a lack of support for the changes required to help the government balance its books.

Other appointments include:
  • Defense Minister and deputy PM: Sheikh Hamad Jaber Al-Ali Al-Sabah
  • Interior Minister and deputy PM: Sheikh Ahmad Al-Mansour Al-Sabah
  • Foreign Minister: Sheikh Ahmad Nasser Al-Mohammed Al-Sabah
  • Health Minister: Khaled Al-Saeed
  • Minister of state for municipality affairs and minister of communications: Rana Al-Fares

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