Kuwait’s government is studying whether to raise fees for its services, Finance Minister Anas al-Saleh told the local press, reported Reuters.
Saleh explained that this move was part of a project to rationalise spending, review subsidies and diversify sources of revenue.
“It is not intended only to plug the (budget) deficit resulting from low oil prices – it will be permanent whether oil prices continue to drop or increase,” Saleh added.
According to Trade Arabia Al-Saleh elaborated further that any increase in service fees or gasoline prices would be decided by the cabinet rather than through parliamentary legislation.
The cabinet would only consult lawmakers on issues that required legislation.
He had previously said Kuwait was considering various options to cover the deficit, including steps to save money as well as issuing bonds.
The Kuwaiti regime spends heavily on subsidising domestic gasoline prices, to keep them artificially low, and is contemplating this movie despites its huge financial reserves.
Sharp criticisms are expected in the Kuwaiti parliament if gasoline subsidies are in fact removed.