DELAYS IN APPROVING THE GOVERNMENT'S BUDGET IMPEDE DEVELOPMENT EFFORTS

  • 13/05/2022

Kuwait City: According to economic sources, the delay in approving the new budget may have a negative impact on economic performance, especially since most development projects in the country have slowed in terms of implementation since before the outbreak of the Covid-19 pandemic due to deficits that have accompanied the country's budget since fiscal 2014-2015 until the repercussions imposed by the epidemic. 


Although the recovery budget remains in place following the rise in oil prices, due to the delay in budget approval and political disruption, major projects expected to be implemented will suffer as a result of the rapid changes that have occurred at the global economic level, accompanied by rising inflation supply chain disruptions, and the ongoing repercussions of the Russian-Ukrainian war.

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