Kuwait’s Emir tells parliament that austerity is inevitable
Kuwait’s Emir said that spending cuts has become inevitable because of the sharp drop in oil price. Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah said a sharp drop in state revenue due to lower oil prices over the past two years was the second most serious challenge facing Kuwait, after regional security threats. He also said the government must be careful not to overlook social justice and the need to ease the burden on low-income Kuwaitis. (Reuters)
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