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Kuwait's financial situation excellent, economy needs changes

KUNA
Wednesday, June 3, 2020

Kuwait

His Highness the Prime Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, on Wednesday, affirmed that Kuwait's financial situation is excellent, but the economy needs a major change in its structure.

During his meeting with the local newspapers' chief editors, Sheikh Sabah Al-Khaled said: "we cannot rely on one depleted resource, which is oil, because this is difficult, and we must diversify the sources of income in the country."

"The repercussions of the coronavirus caused a huge collapse in oil prices from USD 65 to USD 11, and Kuwait was investing all of its money and portfolios in world markets, but we had fenders that absorbed as a result of planning to cope with any crisis," he added.

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Deshbandhu
Sunday, June 7, 2020
Huge collapse in oil prices, because of worldwide restrictions on movement. So suddenly, nobody want to buy petrol and oil tankers are sitting on the high seas rather than returning back to port.
Kuwait must be regretting why they agreed to transport all amnesty recipients free of charge when their own country is charging full fare plus quarantine hospitality fees plus GST !

@Anand
Unfortunately, neither Kuwait govt. nor India govt. care about us. They will not make any concession because they have to see their survival first even if it means many expats lose their lives. Only when sufficient lives are lost they will take action. They don''t care about your air conditioned apartments and cars and jobs. For them, only if somebody is on the footpath then they will take action.

Anand
Friday, June 5, 2020
Expatriates are in deep trouble. Now the time to help the people in need.. There are thousands of family''s and bachalors sitting at home. Since last 3 months without Jobs. Land Lord''s are not ready to reduce the rent. Govt. of Kuwait should Come out with plan how to solve this problem.. Make. Some amendment in laws not to burden the Expatriates with rent.. If this situvation continues Expatriates will be on roads without money and Jobs.

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