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Why Kuwait’s political infighting is leaving its economic plans on ice
Political infighting between the parliament and government has forced the resignation of two cabinet ministers in less than a month and threatens to draw in more of their cabinet colleagues.
June 15, 2012 6:25 by Reuters
Kuwait has posted fiscal and external surpluses for thirteen years in a row and can absorb the current fall in the oil price despite its large spending plans. Crude traded under $100 a barrel last week.
But analysts say this level of comfort means it lacks a sense of urgency to implement the development plan and longer-term reforms.
Kuwait is not translating its healthy fiscal position into economic progress, said economist Jassem al-Saadoun, director of the independent al-Shall Centre in Kuwait. (editing by Ron Askew)
By Sylvia Westall and Ahmed Hagagy