Kuwait – Mubasher: Kuwait’s budget increased five folds in the past 15 years, with a compound annual growth rate (CAGR) of 13%, Jassim Al Saadoun, chairman of Al Shall Economic Consultants, said on Sunday.
“The country spent KWD 19.2 billion on salaries and subsidies, compared to KWD 4 billion in 2000,” Al Saadoun added during a seminar about the financial policy adopted by the Kuwaiti government under the current situation.
“Public spending growth in the 1990s was 3.5%, and inflation was covered, lets imagine if we could have maintained that growth rate in the period between 2003 and 2013, the budget would have come to KWD 7.5 or eight billion dinars,” he explained.
