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Cabinet officials

Kuwait National Assembly Approves Additional Budget for Fiscal Year 2022/2023

Strategic Insights

— 1 min read

The Kuwait National Assembly Budgets Committee met with Finance Minister Abdulwahab Al-Rasheed to address objections raised by lawmakers on Tuesday regarding the state budget for fiscal year 2022/2023. The committee agreed to add KD 420 million to the budget, with KD 300 million allocated for government employees to cash their annual leaves, and KD 120 million for delayed payments to frontline workers. The new additions are likely to post a deficit in the budget, which initially projected a surplus of over KD 300 million due to increased oil revenues.

Key Takeaways:

  • The Kuwait National Assembly Budgets Committee added KD 420 million to the state budget for fiscal year 2022/2023.
  • KD 300 million will be allocated to government employees to cash their annual leaves, with employees able to "sell" up to 120 days of accumulated annual leave each calendar year.
  • KD 120 million will be allocated for delayed payments to frontline workers who worked during the coronavirus pandemic.
  • The additional funds will likely result in a deficit for the budget, which initially projected a surplus of over KD 300 million.
  • The committee passed a recommendation to give Kuwaiti employees in government priority when cashing their annual leave.
  • MP Mubarak Al-Tasha plans to submit draft legislation allowing people to challenge verdicts issued by judges, following the sentencing of seven judges to jail terms and hefty fines for bribery charges.
  • The legislation aims to allow individuals to appeal the verdicts before the Court of Cassation, whose rulings are final.

Statistics:

  • KD 420 million added to the state budget for fiscal year 2022/2023.
  • KD 300 million allocated for government employees to cash their annual leaves.
  • KD 120 million allocated for delayed payments to frontline workers.
  • Up to 120 days of accumulated annual leave that employees can "sell" each calendar year.
  • 10 years in jail and a fine of KD 500,000 for the Iranian businessman convicted of bribery.
  • 7 years in jail and fines for each of the 7 judges convicted of bribery.

Sources:

  • The Kuwait Times (Safat, Kuwait) at www.kuwaittimes.net/
  • Tribune Content Agency, LLC.

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