HH the Amir inaugurates deliberations of consultative cmte on int''l, domestic economic developments

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah delivered at Sief Palace on   Monday a speech at the inauguration of deliberations of the consultative committee tasked   with reviewing the international and domestic economic developments. The gathering was attended by HH the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah,   National Assembly Speaker Jassem Al-Kharafi and HH the Prime Minister Sheikh Nasser   Mohammad Al-Ahmad Al-Sabah. HH the Amir said in his speech that following the accelerating economic developments   witnessed by the world today, their repercussions and complications "pose a serious threat   to our national economy and the future of our generations to come." The backbone of   security in any country is the economy, HH said, and "we, as we thank God for what he   granted us of the blessings and assets allowing the establishment of a strong, solid and   stable economy that ensure reasons for progress, prosperity and a decent life for the   people of Kuwait in the present and the future, however, the practice in abusing financial   surpluses has led to a number of structural imbalances in our national economy, thus,   becoming a heavy burden and genuine concern threatening the country's future and its   ability to implement its programs and meet its various financial obligations." HH the Amir   went on to say that "in the face of the continuation of irresponsible wasteful consumption   and excessive increase in current non-productive expenditure, these distortions and   imbalances have deepened and their effects and consequences have been complicated, and I am   not here to diagnose this problem and discuss the details, as you are experienced and   competent in this field but what our economic reality is witnessing anticipates risks that   are difficult to predict their limits of effects, in a way that does not tolerate being   slow in addressing it." HH the Amir called for adopt a package of measures to ensure   correct course of the general budget of the state and activating the role of the private   sector to shoulder its responsibility to participate actively in economic activity and to   address other imbalances, which impede our national economy. "So the total of such developments and their implications requires of us a serious stand to   review our situation and take the necessary and serious steps to protect our national   economy and ensure a decent life for the people of Kuwait and their generations to come ..   it is our responsibility before God, the homeland and the people." HH the Amir pointed out   that the aim of this meeting is to discuss this issue in all its dimensions and to provide   practical suggestions to address it, leading to completion of the desired goals that   guarantee to improve and strengthen the capacity of the State of Kuwait to meet the   economic challenges and achieve the sought developmental objectives. HH the Amir added that each reform has a cost and sacrifices, but within a minimum level so   as to achieve balance between interests of the country and the aspirations of citizens and   their desires, "and I am convinced that my brothers and citizens, as always will be at the   level of national responsibility in understanding and adopting any steps that achieves the   national interest and for generations to come." HH the Amir also called on members of   parliament to reflect the responsible cooperation in the understanding and support of   proposed procedures and approaches to achieve the desired objectives as a national project   that includes everyone. "I am confident that when you defy to this national and noble mission, you will be assisted   by studies and research by sincere national minds that will help you in your quest to reach   the economic goals and sought objectives, and I invite you to build on these studies and   research and try to take advantage of them and bring about your visions and views to ensure   the speed implementation and accomplishment of your mission in the service of the hopes and   aspirations of the people of this dear homeland," HH the Amir said. HH said he has full confidence in "your care and ability to reach the best solutions and   most successful ways to address imbalances witnessed by our economic situation and   strengthen our national economy in all sectors and fields, but let me mention some things   that I see must be taken into account while presenting your views and your comments in this   regard." First: Taking into account those with low incomes in all measures proposed. Second: Solutions must be realistic and be part of the capabilities and capacities   available. Third: Selecting an appropriate mechanism of action for the implementation of solutions to   ensure proper implementation in accordance with a specific timetable and effective   monitoring and evaluation. Fourth: Commitment to the full standards of transparency and equal opportunities in the   implementation of activities, programs and various projects in order to achieve the   integrity required to ensure a good investment of state resources and to devote maintaining   of public money. Fifth: Overcoming conventional frameworks in dealing with the requirements of economic   reform and creating better and faster ways and the most flexible to achieve the desired   goal. Sixth: Good definition and marketing of proposed programs to the citizens and use of the   media with a message aiming to raise awareness of the contents of these programs and their   feasibility and the benefits that can accrue to the citizen through them and achieve the   necessary guarantees for their generations to come for a better life. His Highness the Amir said he commissioned HH the Prime Minister Sheikh Nasser Mohammad   Al-Ahmad Al-Sabah or any of his deputies to follow the work of this committee and get the   job done, hoping that the committee shall make a report of the results of its actions and   recommendations as soon as possible and within a limited timeframe.