Kuwait Finance minister says bureaucracy hinders growth
- 19 Oct 2013
| 2 minute read
Deputy prime minister and finance minister Sheikh Salem Abdulaziz Al-Sabah criticised Kuwait’s bloated bureaucracy and inefficient labour market on 7 October, repeating views he expressed before resigning as governor of the central bank.
Interestingly, his comments were carried by state news agency Kuna, although the headline, ‘Kuwaiti economy “strong and stable”’, highlighted a different aspect of what was his first extensive public policy statement since taking charge at the ministry in August (GSN 953/8).
Sheikh Salem did, indeed, say Kuwait’s economic situation was predominantly strong and stable, pointing to a KD12.7bn ($44.8bn) surplus for the 2012-13 financial year ending in March, representing 24.7% of nominal GDP for 2012.
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