Speech of His Highness Shaikh Sabah Al Ahmed Al Jaber Al Sabah
At the Advisory Committee Meeting to
Economic Developments Monday
15 August 2011 Seif Palace
In the Name of Allah the Most Gracious the Most Merciful,
Praise be to Allah the Almighty, we thank Him for His blessings, bounty and benevolence. And prayers and peace be upon our Prophet his family and his companions.
His Highness the Crown Prince
His Excellency the Speaker of the Parliament
His Excellency the Prime Minister
Brothers and sisters
I would like to welcome you all in this meeting. While we are witnessing a blessed and virtuous days and nights, inspired by the light of wisdom and the right opinion and deed, we subjugate to Allah Almighty to accept our fasting and deeds, protect our country and keep it safe and secure.
You might have followed the tremendous and fast economic developments in our world and realized the repercussions, implications and complications it entailed which pose a serious threat to our national economy and the future of our coming generations.
Economy is the backbone of any country. We thank Allah for the blessings and assets He granted us which allow establishing a strong and solid economy that ensures progress, prosperity and decent life for the people of Kuwait. Yet, the misuse of the financial surpluses and non investment in the right way have lead to several structural imbalances in our national economy that formed a heavy burden threatening the future of the country and its ability to implement its agenda and meet the different financial obligations.
While the wasteful and irresponsible consumption continues and the current unproductive spending increases, the distortions and imbalances have deepened and its implications and consequences have worsened.
I am not here to dwell in the diagnosis of the problem and its details for you are the expertise in this field, but our economic situation signifies warnings and dangers with unpredicted repercussions that bears no deceleration or looseness, rather it requires adopting a package of measures that corrects the path of the state budget, activates the private sector role in bearing its responsibilities by effective participation in the economic activity and resolving all economic imbalances that hinders our economy.
Therefore, all these developments and their implications require a serious pause to review our situations and take the necessary steps to protect our national economy and ensure a decent life for the people of Kuwait and their next generations. It is our responsibility before Allah, the homeland and the nation.
Bothers & Sisters,
Based on these great responsibility, I have invited you to this meeting as a responsible, experienced, and professionally competent national authorities that we value and trust, to examine this issue with all its dimensions and provide practical suggestions to tackle it in a way that leads to the desired reform which guarantees the improvement of the capabilities of the State of Kuwait to face the economic challenges and realize the desired development aspirations.
I know we have great sacrifices that we have to meet, for any reform there is a price and sacrifice. Let these sacrifices be within our minimum abilities in a way that achieves balance between the country’s welfare and peoples’ aspirations and desires. I deeply believe that my brothers and sons the citizens are up to the national responsibility in understanding and adopting any step that achieves the national welfare and provides a decent life for them and their coming generations now and in the future.
I also invite the Members of Parliament to adopt this responsible cooperation in understanding and supporting the proposed procedures in order to realize the desired objectives as it is a national project that all are responsible in achieving its goals and high objectives.
I am confident that you will not start from scratch when you bear this national noble mission. You have many studies and researches done by dedicated national minds which will help you in your endeavor to reach the desired economic and development objectives. I urge you to use these studies and researches and add your visions to it to accelerate implementing your mission in serving the hopes and aspirations of this beloved homeland.
While I confirm my full confident in your devotion and ability to reach the best solutions and the most successful ways to solve the imbalances in our economical situation and strengthen our national economy in all its fields, I would like to highlight some issues that I see it is important to them into consideration when you crystallizing your visions in this matter, and they are as follows:
First: taking into account the low-income people in all proposed actions that it does not burden their shoulders in meeting life costs.
Second: Solutions should be realistic, applicable and within the capacities and capabilities available.
Third: Choosing a suitable mechanism of action to implement the solutions that guarantee good implementation in accordance with a specific timetable and effective monitoring and evaluation.
Forth: Adhering the standards of full transparency and equal opportunities in implementing the different activities, programs and projects in order to achieve the required integrity, ensure proper investment of the states resources and maintain public money in the best way.
Fifth: Discarding traditional frameworks in dealing with economic reform requirements and creating the best, fastest and most flexible ways of achieving the desired goal.
Sixth: Defining and marketing the suggested programs in a good way for the citizens, using purposeful media to make them aware of these programs, their feasibility and benefits and achieving necessary guarantees for their next generations for a better life.
Finally, brothers and sisters, I value your response to participate in this committee looking forward to your ideas, proposals and initiatives that will contribute in addressing the economic situation and enhancing our national economy to realize the aspirations of our loyal nation.
I thought of assigning HH Sheikh Nasser Mohammed Al Ahmed Al Sabah, the Prime Minister, or whoever he authorizes from his deputies to follow up the work of this committee and the completion of its missions. I hope that the committee presents a report of the results and recommendations as soon as possible and within a specific timetable. I subjugate to Allah Almighty to inspire you help and righteousness for the welfare and service of our beloved Kuwait. May Allah guide us all to what he loves and satisfaction.
Wassalamu Alikom wa Rahmatullahi wa Barakatuh...