IMF calls for slashing public sector wages, imposing taxes

Posted on    30 January 2020
 IMF calls for slashing public sector wages, imposing taxes

The International Monetary Fund has urged OPEC member Kuwait to introduce a package of reforms that includes imposing taxes and phasing out subsidies to plug a chronic budget deficit. Kuwait, which heavily depends on oil for almost 90 percent of its revenues, has been hit hard since crude prices crashed in mid-2014 and earlier this month approved a budget with a huge shortfall for the sixth year in a row. Income from investments held through the government’s sovereign wealth fund is not included in the budget.

Read more at: https://news.kuwaittimes.net/website/imf-calls-for-slashing-public-sector-wages-imposing-taxes/



like  1 Like
views 755


More From News