Misuse of Kuwait's state budget surplus, including unproductive spending, has led to structural imbalances in the country's economy, its ruler Emir Sheikh Sabah Al-Ahmad Al-Sabah was quoted as saying by state news agency Kuna on Monday.
Kuwait needs to increase government spending and support the private sector to overcome imbalances in its economy, the central bank governor said in television remarks.
The Opec member's dependence on oil and the government's control on al
Kuwait is witnessing imbalances in its economy which require corrections, the state news agency cited the country's central bank governor as saying.
'Sheikh Salem Abdul-Aziz Al-Sabah spoke about the economic situation in Kuwait an
European Central Bank (ECB) president Jean-Claude Trichet on Sunday raised concern about widening global imbalances after the financial crisis, calling them one of the main challenges for the global economy.
Global imbalances were blamed
Faced with an uneven world recovery and uncertain outlook, finance leaders were hoping on Friday to flesh out a plan to build a global economy less prone to the booms and busts of recent decades.
Forging consensus among central bankers and