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Economy News - Baghdad
Member of the Kuwaiti National Assembly, Osama Al-Shaheen, announced that Kuwaiti government deposits amount to 815 million dollars with the government of Iraq.
Al-Shaheen said that he received an answer from the Minister of Finance to a previous question, which showed that the value of Kuwaiti deposits in Arab countries amounted to more than two billion and 257 million dinars, distributed among 9 Arab countries, including 5 faltering countries.
He added that according to the minister's answer, the total current Kuwaiti government deposits in Iraq alone amount to $815 million, due for payment in December of the current year.
He stated that the total current Kuwaiti government deposits in sisterly Egypt amount to $4 billion, half of which are due for payment this September.
Al-Shaheen was surprised by the Minister of Finance’s request not to disclose this data, stressing that the general principle is transparency and publicity to achieve oversight by public opinion and the nation’s elected representatives over the government’s procedures and decisions and everything related to the state’s public treasury.
He indicated that he would ask a question in light of this answer, from which it appears that the state has not succeeded in recovering any of the returns from those billion government deposits in Arab countries.
Al-Shaheen praised the urgency of the Financial and Economic Affairs Committee in discussing the proposals for laws submitted by him and other representatives regarding the Kuwait Development Fund and social insurance related to the replacement system and others, indicating that he received an invitation from the committee to attend its meeting next Tuesday.
Al-Shaheen stressed that the government does not have the right to use the excuse of a financial accounting deficit with respect to citizens while it possesses billions of deposits in addition to sovereign funds, adding that “citizens are the first to be cared for, nurtured and protected,” criticizing, on the other hand, the distribution of rewards through executive decisions to some sectors and not others and depriving the rest of the citizens of this. Right.
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