Kuwait to discuss plans to cut subsidies

(MENAFN) Kuwait National Assembly discussed government plans to lift or cut subsidies on public services and fuel, which expects to brief the Assembly with the reference of a study by global consultant.

Accordingly, the government program deals with explanation of subsidies and economic reforms to stimulate the private sector and national economy as total.

In addition, the government will increase the price of petrol, electricity and water, and it has calculated incomes in next financial year's budget of just USD 25 a barrel.

It also argued the performance of the Kuwait Investment Authority and the situations of fiscal reserve, while the annual surplus of Kuwait's debit is moved to the general reserve.