IMF urges Kuwait to accelerate reforms, impose taxes – Saudi Gazette

IMF urges Kuwait to accelerate reforms, impose taxes – Saudi Gazette

Spending, mostly on hard-to-reverse categories such as salaries and social aid, expanded by 25 percent only in the past two fiscal years while the public wage bill has grown by a bout 6.0 percent annually, the IMF said.. The IMF said that without reforms, the government's financing needs are projected to grow rapidly, accounting for $180 billion over the next six years.. The plan calls for gradually reducing public spending and curtailing the public wage bill, which accounts for nearly half of public expenditures, by making private sector jobs more attractive.. To gain broad support, the proposed fiscal measures should be part of a comprehensive reform package that fosters private sector growth and jobs, reduces waste and improves the quality of public services, and strengthens government accountability and transparency," the IMF said..