By A Saleh

KUWAIT: Spending by citizens and expats retreated by 2.8 percent in 2019 (KD 672.6 million) to reach KD 23.18 billion compared to KD 23.85 billion in 2018. According to statistics issued by the Central Bank of Kuwait, the total sums spent by citizens and expats on direct point-of-sale purchases of goods and services retreated by 6.7 percent (KD 773.5 million) to reach KD 10.7 billion, compared to KD 11.47 billion in 2018.

On the other hand, statistics showed a slight increase of 0.8 percent (KD 100.8 million) in ATM cash withdraws, taking total withdraws to KD 12.47 billion compared to KD 12.37 billion in 2018. The total number of dud cheques in 2019 was 5,508. Bank accounts closed because of dud cheques were 899, owned by 887 clients who issued 2,594 dud cheques of a total value of KD 42 million.

Economic reforms
A ministerial committee assigned by the government to set a package of executive measures to achieve economic and financial reforms submitted a related detailed report to the Cabinet to be discussed soon, pending approval and immediate implementation unless they needed special legislations and referral to the parliament, said informed government sources.

The sources added that the measures set by the committee include reforming the mechanism followed for purchases at government bodies, as it had been found that the current mechanism leads to wasting 40 percent of public funds. "Suggested reforms also include merging some government bodies, namely those with similar specialties," the sources explained, noting that this includes scrapping the Quran authority and subjecting it once more to the Ministry of Awqaf and Islamic Affairs, and scrapping the Public Authority for Roads and Transportation and returning its responsibilities to the Ministry of Public Works.

Review of subsidies
The sources added that subsidies paid for foodstuff, fuel, electricity, construction materials and social aid will be periodically reviewed to be given to certain categories of citizens only. In addition, the sources said the national labor support allowances have become overburdening in view of several violations and unlawful recipients.

"Fines and penalties on companies not committed to employing citizens at the expense of expats will be increased," the sources added, noting that the government will also increase the rent values of state-owned properties and offer them for rent through public auctions. Furthermore, the sources said the reforms will include launching a privatization program by offering several government bodies such as post, electricity, media, some Ministry of Health sectors and the ports for privatization.