KUWAIT: Kuwait may review its subsidies policy, the finance minister said in a televised interview yesterday, adding that financial support should only go to those who need it in the wealthy oil producer.
The IMF has repeatedly urged reforms to Kuwait’s subsidies system, which along with wage hikes has contributed to a steep rise in government spending. All residents benefit from subsidised petrol and cheap electricity, while Kuwaiti nationals get extra support for housing and food.
“There is the possibility of reconsidering the subsidies,” Finance Minister Sheikh Salem Abdulaziz Al Sabah told news channel Al Arabiya, when asked whether Kuwait would review subsidies, including those for petrol and electricity. Reuters