The Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, affirmed that the decline in oil prices and the prices of assets and investments will negatively affect the financial solvency of the state.
Al-Sabah said in a speech broadcast on official television today, Saturday, "The tomorrow of Kuwait faces a major and unprecedented challenge of preserving the safety and durability of our national economy from the external shocks caused by this epidemic, especially the sharp decline in oil prices and the decrease in the values of assets and investments, which will negatively affect solvency." State finances. "
He pointed out that he called on many occasions "to focus our efforts to build a stable and sustainable economy based on man, taking advantage of our natural resources that God has loved us, and directed to review our daily lifestyle and method, rationalize the exploitation of our resources and reduce dependence on others in our actions."
He called on the government and the parliament in these circumstances to "join hands and work to develop a program that guides government spending and sets plans to reduce dependence on one resource so that our children and future generations enjoy a decent life."