VOL. XLI

No. 47

23-November-1998

KUWAIT

Kuwaiti Government Warns Of Grave Consequences If Budget Deficit IsLeft Unchecked

Kuwaits chronic budget deficits of recent years, coupled withprojections of more to come due to low oil prices, have focused the minds of severalKuwaiti ministers and officials on the need to introduce major fiscal reforms torationalize government spending. In the past six months several officials have proposedmeasures to increase public revenue, but none have actually been...