Kuwait-Mubasher: The government would be expected to provide KWD 16 billion subsidy during the coming three years, if the current subsidy system remained unchanged, undersecretary of finance ministry Khalifa Hamada said on Wednesday.
The continuation of the current subsidy system will contribute to increasing the expenditure which will lead to an imminent budget deficit,” Kuwait News Agency (KUNA) cited Al-Qabas in an interview with Hamada.
Kuwait’s plan to rationalize its subsidy burdens will contribute to saving KWD 2.6 billion in three years.
“He pointed out that the rationalization will ensure sustainable development in Kuwait and enable the state to continue to provide essential services to its citizens, such as education, health, security, justice and other services that are indispensable,” added KUNA.
