Government May Seek To Introduce A New Law For Public Borrowing
Category: Kuwait
government-may-seek-to-introduce-a-new-law-for-public-borrowing_kuwait
Immigrate to Canada or Australia
Study In Abroad

The government may seek to introduce a new law for public borrowing in the next session scheduled for October, but no specific ceiling has yet been set for the target amount, explaining that the expected law is a modified form of the old law and takes into account the observations of the MPs who had earlier rejected it, reports Annahar daily quoting reliable economic sources.

An official told the daily that the law is an imperative need to protect the state’s general reserves from depletion. He pointed out that the existence of flexible laws appropriate for government borrowing is in place in economies of all countries in the world, even in the United States of America.

Specialists say balanced public borrowing of finance contributes to maintaining sovereign ratings, currency and state power to meet the challenges ahead. In a related context, the official said the general reserve suffers from the withdrawal of liquidity from it repeatedly since the budget entered the deficit ‘sphere’.

He added that the assets of the Kuwaiti sovereign fund are close to $600 billion despite the crises that are going through a number of major economies around the world.

The old borrowing law ended in October 2017, when the National Assembly was in recess, after which the government resigned, and the government was unable to approve the new law due to parliamentary opposition.

The deputies had earlier rejected the passage of the law, and attacked the government’s insistence that the liquidity in the general reserve is decreasing significantly, and it needs to be strengthened, and addressed, considering it as an excuse to pass the borrowing project, and also stressing that the draft, which was rejected by a majority members of the Finance Committee of the National Assembly. The deputies then called on the government to find alternatives to diversify sources of income instead of going to borrow directly.

 

SOURCE : ARABTIMES

10 Sep, 2019 0 329
Posted Comments
Popular News
plots-for-those-affected-by-gcc-railway-project_kuwait
Plots For Those Affected By GCC Railway Project As per the law on establishing the Public Authority for Agricultural Affairs and Fish Resources (PAAAFR), those granted Wafra agricultural plots that will be removed due to the GCC railway project are... September 17, 2019 0 7805 Category: Kuwait
kuwait-university-students-in-shocked-_kuwait
Kuwait University Students Shocked ? Kuwait University students were shocked, after moving to the new site in Shedadiyah, to find out that the place has three names – Kuwait University, Shedadiyah University and the third which is ... September 19, 2019 1 7526 Category: Kuwait
kuwait-army-units-put-on-alert_kuwait
Kuwait Army Units Put On Alert Presidency of the General Staff of Kuwait Army announced Wednesday that some military units are put in a state of combat readiness as a precaution against the current conditions in region. The measur... September 19, 2019 1 2074 Category: Kuwait
kuwaiti-woman-to-pay-kd-5001-compensation--for-illicit-relationship_kuwait
Kuwaiti Woman To Pay KD 5001 Compensation For Illicit Relationship The Civil Section in the First Instance Court has instructed a Kuwaiti woman to pay KD 5,001 compensation to her ex-husband for the damages he incurred when she engaged in an illicit relationship befo... September 19, 2019 1 1622 Category: Crime News
change-in-designation--will-my-driving-license-renewedcancelled_kuwait
Change In Designation – Will My Driving License Renewed/Cancelled? Hello, my license was issued in 2016 and the title is ‘muazzif istakbal’ now i am moving to another company where the title is going to be ‘mushirf baya- sales supervisor’ the ... September 17, 2019 0 1588 Category: Driving License
3-persons-charred-to-death-in-4car-tragic-collision_kuwait
3 Persons Charred To Death In 4-car Tragic Collision A four-vehicle collision on the Fahaheel Road opposite Abu Halifa resulted in the death of three unidentified persons after their vehicles caught fire, reports Al-Rai daily. Acting on information fire... September 17, 2019 0 1318 Category: Crime News
asian-maid-insulted-kuwaiti-woman_kuwait
Asian Maid Insulted Kuwaiti Woman An unidentified Kuwaiti woman, who is believed to be in her 40s, has filed a complaint with the police accusing an Asian maid of entering her home without her consent and insulting and verbally abusin... September 19, 2019 1 709 Category: Crime News
kuwaiti-government-has-advised-citizens-and-residents-to-rely-on-the-state-official-news_kuwait
Kuwaiti Government Has Advised Citizens And Residents To Rely On The State Official News The Kuwaiti government has advised citizens and residents to rely on the State official sources to get credible and accurate information, especially on the situation in the region. In a press state... September 20, 2019 0 591 Category: Kuwait
saudi-presents-evidence-of-iran-hand-in-attack-on-oil-facilities_kuwait
Saudi Presents Evidence Of Iran Hand In Attack On Oil Facilities Saudi Arabia alleged on Wednesday that Iranian cruise missiles and drones attacked the heart of the kingdom's oil industry, showing journalists the remains of the weapons. Iran denies being involv... September 18, 2019 1 563 Category: International
toddler-killed-mum-on-her-birthday-by-accidentally-closing-car-window-on-her-neck_kuwait
Toddler Killed Mum On Her Birthday By Accidentally Closing Car Window On Her Neck A two-year-old girl killed her mum by accidentally hitting a car window switch, closing the glass on her mother's neck. Yulia Sharko, who turned 21 on the day she died, was trying to pull her d... September 18, 2019 1 495 Category: International
View All
Popular Offers
carrefour-offers in kuwait
Carrefour Offers
grand-hyper-offers- in kuwait
Grand Hyper Offers
special-costo-offers in kuwait
Special Costo Offers
nesto-money-fest- in kuwait
Nesto Money Fest
super-saver in kuwait
Super Saver
Popular Events
04 Dec, 2019
0
120
Category : Exhibition
01 Nov, 2019
0
119
Category : Music
21 Sep, 2019
0
113
Category : Food & Drink
03 Oct, 2019
0
100
Category : Film & Media
23 Sep, 2019
0
97
Category : Food & Drink
Kuwait Local News
Kuwait News
Crime News New Rules