Major economic changes expected from Kuwait's parliament

KUWAIT CITY - Regarding the expectations from this Parliament concerning economic affairs, it seems that major changes are in order. A parliament of this kind will not accept crusty economic reforms, but will go deeper and demand a lot.

This is because the parliamentary body includes those familiar with financial affairs and are fiercely fighting administrative corruption, reports Al-Nahar daily.

The results of the parliamentary election also reveal that citizens have chosen those who will defend the reforms without compromising their well-being, which will form a buffer against any laws that may increase financial burdens or impose taxes and the like. According to informed sources, the next government must keep pace with the current Parliament, as ministers with different and radical solutions to the outstanding issues will be able to face the parliament with popular enthusiasm and giant aspirations for a change.

The new government formation will undoubtedly bring about influential changes, as the level of achievement will not satisfy all ambitions. The aspects of reform in the parliament are not scarce, and the aspects of reform in the new government should be influential and effective.

The sources called for cooperation between the two authorities to establish tangible financial and economic reforms, as the current parliamentary formation and the expected government come at a time when the budget deficit is intensifying due to the continued heavy dependence on oil for income and the absence of clear strategies to diversify revenues, as well as the drop in the general reserves amid international and local calls to change the approach towards dealing with various economic crises.