11 Hrs
Source:
الراي
Decree-law for Future Generations Fund loans
A decree-law has been issued in Kuwait permitting borrowing from the Future Generations’ Reserve to support the country’s General Reserve, aiming to finance fiscal deficits and achieve economic stability. The decree states that the Reserve Fund shall invest these funds and utilize their returns, with limits set on borrowing so that total loans during a single fiscal year do not exceed 100% of the average yields over the past five years, and 10% of the Reserve’s assets. Additionally, approval must be obtained from the Council of Ministers and the Board of Directors for each loan. In the event of surplus revenue, priority should be given to debt repayment from the country’s revenues. The decision aims to organize the management of these funds and reduce the fiscal deficit in a flexible and secure manner, while ensuring that loans are not reduced or written off except by law.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)