Legislator reviews options on loans, debts owed by Kuwaitis – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 09-Jan-2023
- Source: Arab Times Kuwait
- Sector:Financial Services
- Country:Kuwait
Legislator reviews options on loans, debts owed by Kuwaitis – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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KUWAIT CITY, Jan 8: MP Alyaa Al- Khalid has no intention to vote for the bill on writing off the citizens’ loans, because it violates the principle of equality stipulated in the Constitution. The lawmaker suggested that instead of writing off the loans; radical steps must be taken to eliminate the factors which prompted almost one third of the Kuwaitis to obtain loans, solve the problems of those who cannot pay their loans, get rid of the bad administration and combat corruption.
She said most citizens are forced to take loans for their treatment abroad due to failure to obtain overseas treatment support, as well as for the education of their children and construction of their houses. She added the budget for writing off loans is huge — about KD 14 billion. She wondered: Where will we get such a huge amount if the problem surfaces every three or four years?
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