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KuwaitOther News
IMF urges further subsidy reforms
KUWAIT: Kuwait must enact further subsidy reforms to trim its budget deficit resulting from low oil prices despite political sensitivity, the International Monetary Fund has said. Posting its first budget shortfall of $15 billion last fiscal year following 16 years of surpluses, OPEC member Kuwait has adopted a series of austerity measures raising the prices of fuel, power and water. The state liberalized diesel and kerosene prices last year and recently hiked the cost of petrol, causing a political crisis that led to parliament being dissolved and calls for a snap election.
But even with these measures, Kuwait will need a massive KD 35 billion ($116 billion) to finance its deficit over the next six years, the IMF said in a report released late Tuesday. In spite of the government reform measures, Kuwait's "fiscal and external accounts have deteriorated markedly", it said. "Further subsidy reform is critical."
The report encouraged "the authorities to move ahead with their plans to further rationalize energy subsidies", estimated at close to $7 billion in last year's budget. It also called for controls on the wage bill and for raising non-oil revenues. Earlier this year, Cabinet approved a comprehensive plan aimed at subsidy reforms, economic diversification and controlling the wage bill, which accounts for almost half of public spending.
But the plan was fiercely opposed by the previous parliament and also by a majority of candidates running in polls slated for Nov 26. According to local media, the government plans to end subsidies by 2020. To meet budget financing needs, Kuwait has drawn down billions of dollars from its $600-billion sovereign fund. It has also resorted to borrowing and plans to issue domestic and foreign bonds worth $16.6 billion. Kuwait is projecting a deficit of $29 billion this fiscal year. – AFP
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How do you know? Reading Ziauddin Sardar on Islam, science and cultural relations.
Sardar, Ziauddin (2006) How do you know? Reading Ziauddin Sardar on Islam, science and cultural relations. Masood, Ehsan, ed. Pluto Press. ISBN 9780745325156. [Book]
Ziauddin Sardar is one of the world's leading public intellectuals. A broadcaster and cultural commentator, he is the author of over 40 books. His co-authored book Why Do People Hate America? was an international bestseller, and his autobiography, Desperately Seeking Paradise received wide acclaim. Since 9/11 he has been an important Muslim voice in mainstream western media.
This book is the perfect introduction to his thinking that brings together some of his key writings in one volume. It provides extracts from many of his most acclaimed books, from his early writing right through to his latest thinking. Organised in clear chapters, the extracts are carefully chosen to explore the themes of Islam, science and cultural relations.
Drawn from a wide range of sources, this Zia Sardar reader is an accessible introduction to the thinking of one of the leading cultural theorists of our time.
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Sometimes, being pregnant isn't the most fun thing in the world. Usually morning sickness is over by the end of the first trimester, but some women may feel waves of it toward the end of their pregnancy as well. If you haven't experienced it yet, know that morning sickness doesn't just strike in the morning, despite what the name suggests. So what the heck is this misnomer all about, where is it coming from and how can you ease it? Thanks to Mom Junction, a few medical experts have put out some theories to explain the reason behind why women feel sick during pregnancy and offer a some remedies.
Morning sickness is usually unavoidable, but there are a few things you can try to help ease the symptoms and keep the nausea to a minimum. From making sure you're eating lots of little, healthy meals throughout the day to practicing meditation and getting plenty of fresh air, the key to a happy, healthy pregnancy is all about treating yourself with love and respect and lots of pampering. We're okay with that.
Always make sure you check with your doctor before you try any natural remedies, change anything in your diet or treat yourself to a spa day when you're not feeling well. Even the tiniest changes can be a big deal when you're pregnant, so treat your doctor like your new best friend and tell her everything, even if you don't think it's significant.
Pregnant ladies! How do you deal with morning sickness? Share your tips and tricks in the comments below!


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