The cabinet endorsed the bill and referred it to the Deputy Emir.
Minister of Foreign Affairs and Minister of State for Cabinet Affairs Sheikh Dr. Ahmad Nasser Al-Mohammad Al-Sabah stated that the cabinet discussed the recommendation on the adequate mechanism to tackle the economic consequences of the pandemic.
The recommendation was made by the Parliament's Financial and Economic Affairs Committee.
Following the weekly meeting chaired by Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah at Seif Palace, Sheikh Dr. Ahmad said the bill is part of a government effort “to ensure the stability of the economic situation and reduce the risks resulting from the effects of the pandemic.”
The cabinet has also mandated the minister of commerce and industry to coordinate with the finance ministry, the Kuwait Investment Authority, the Central Bank of Kuwait, the National Fund for the Supporting Small and Medium Enterprises, Kuwait Economic Society and other relevant bodies to propose a slew of bills and executive measures to back small and medium-sized enterprises and mitigate the impact of the pandemic on them.
