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    Home » Economic challenges and double standards – Arab Times
    Economic

    Economic challenges and double standards – Arab Times

    adminBy adminSeptember 21, 2022No Comments3 Mins Read
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    When citizens demand loan forgiveness, they begin to say that such measures “lead to social injustice,” the same as insisting on a policy of subsidizing goods and services.

    In their defense, they argue that “this is part of the social justice that the state should achieve for its citizens.”

    This double standard is a chronic challenge facing Kuwaitis. Especially since the expansion of subsidies and random employment is starting to cause large budget deficits. This requires everyone to have a sense of national responsibility in tackling these challenges apart from electoral and economic interests.

    Kuwait’s future should be viewed in terms of continuing to maintain the minimum financial well-being of its citizens. So generalizing subsidies to everyone is arbitrary.

    It is unfair to equate the wealthy with those who have limited income such as the distribution of housing plots, access to land and loans, the former disenfranchising others.

    There is no doubt that everyone is aware of the risks of a global food security crisis during the COVID-19 pandemic, especially in Kuwait.

    The extent of the country’s deficit in this area became apparent, which cost the state a lot of money.

    This is because citizens have not learned to rationalize their dependence on subsidies for food, goods and services. Successive governments and Congresses have failed to consider this important issue, to seek self-sufficiency, or to reduce the state’s enormous annual sales tax burden.

    Meanwhile, the problem of wasting electricity and water in investment buildings that benefit property owners remains one of the most complex challenges.

    Since they pay no fees, they benefit from a near-free service, receiving 10-15% of their annual rent. Luxurious housing, although the state has not benefited from it.

    Today, the development of the war between Russia and Ukraine has created a global energy crisis. European countries have taken some strict measures to protect their energy resources.

    France is starting to rationalize electricity. In the UK, the prime minister has ordered that energy consumption bills should not exceed his £2,500. Germany is urging German citizens and residents not to shower daily, and fines will be imposed on those who do not.

    It must be emphasized here that those who think that this crisis will not affect the rest of the world are mistaken. Because the recession is not limited to European countries.

    As such, countries are preparing for the future through plans to reduce the cost of public funding. Today, many companies operate under the rules established by Brazilian President Lula de Silva. This rule, while receiving from the rich in the form of taxes and giving to the poor, provides many conveniences for businessmen and industrialists, giving a sense of the country’s harshness. With that policy, he turned Brazil from a debtor to a creditor.

    Kuwait faces major challenges today. It is to stem high deficits, combat financial and commodity waste through so-called subsidies, and improve incomes for low-income earners.

    In this regard, I would like to ask the new leadership and His Royal Highness the Crown Prince to follow up and understand the diseases and illnesses in this country, to be familiar with and verify everything that has been announced in the media. increase.

    There is no doubt that the leadership will bring justice to its citizens by rethinking subsidy policies and salaries.

    Ahmed Al Jalarah

    Editor-in-Chief, Arab Times









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