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FINANCIAL NEWS
Kuwait’s massive funds put it in safe zone
27 Jul 2016
(MENAFN) Kuwait has been one of the few nations in the MENA region which stood up in the face of international crude oil prices decline, thus allowing it emerge with less to no damage.
Additionally, the main reason lies behind its enormous financial reserves, which allow the country to conduct gradual economic reforms especially by directing surpluses to productive spending.
According to IMF, the government needs to take more steps towards economic reforms, especially following the decline in oil prices, especially taking the right actions in raising the non-oil income.
However, it looks like Kuwait isn’t waiting for a push as it plans to start imposing taxes on commercial profits, as extra profits are expected, despite any low rates of taxes price, thus indicating its readiness.
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