Kuwait says to hike fuel prices to cover budget deficit.

The Kuwaiti government is set to hike up the prices of its fuel and other services.Khalifa Hamada, the Ministry Undersecretary, told Kuwait Times that the ministry will most likely submit endorsements to the Cabinet’s economic committee regarding increases in fuel prices and other services.

He did not set exact dates for implementation.However, the ministry has confirmed plans of financial changes to recover its budget deficit.On its official Twitter account, it said that any measures to be taken will be done so in order to ensure the sustainability of “honourable living” standards for the public.


It denied any negative consequences that citizens might endure.“The government plans to re-direct subsidies to ensure that they reach people who need it,” it said on its official Twitter account.Kuwait’s Members of Parliament have rebuffed the government’s plans, saying the cost increase will only strain the public.

 MP Abdullah Al-Turaiji called the decision an “agitated” push and reminded the government that the victims of such events will be mere citizens.Instead, he called for the government to restrain its own spending expenditure, revealing that the Assembly committees have reports indicating the government’s unrestrained spending of national capital.

Despite the majority of MPs opposing cost upturns, the government is set to impose measures.Kuwait is the latest gulf state to announce the upsurge of fuel costs. Saudi Arabia, Oman, and Bahrain have all hiked up their petrol prices.

Via : Kuwait Times

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