Kuwait’s strategy to tackle Inflation and rising food prices.
14 September 2023, 12:00 AM
31 October 2023, 12:00 AM
The Minister of Commerce and Industry and the Minister of State for Youth Affairs, Muhammad Al- Aiban, has proposed what looks like a clear road map to combat inflation and combat the high prices of food commodities, especially major ones.
Responsibility for its implementation includes the Council of Ministers and more than one government agency, in addition to cooperative societies, reports Al-Rai daily.
Minister Al-Aiban’s vision for the success of confronting inflation locally amid the continued escalation of global price increases for external reasons included 10 urgent recommendations, including canceling price fixation, in addition to postponing the implementation of the value-added tax.
It is clear that the solutions presented to the issue of high prices of food commodities were not limited to urgent recommendations, but rather included other divisions that can be implemented in the short or medium term, thus contributing to achieving sustainable price stability in the local market and avoiding the risks of high global inflation rates.