Topic: Sustainable Economic Policy
Country: Kuwait
Delegate Name: William Fleming
School: Fishers High School
Topic page: background guide and all position papers All Kuwait position papers GLIMUN 2015 committees
Kuwait’s economy has been doing well ever since the the United States liberated us in the Gulf war from Saddam Hussein. Due to large amounts of money that is pulled in from the oil trade, money from all over ther world comes in for the crude oil in the middle east. The main issue for the economy however, is the rise of new energy and fuel sources, such as electric cars and wind power, plus oil from other sources, such as fracking in the US. They way that Kuwait balances out is with a large fund, known as the Fund for Future Generations. The fund was created as a cushion if oil prices fell, and is funded with 10% of the government revenue.
A very integral part of good economies is a well designed infrastructure. The nation of Kuwait has a 123.6 billion US dollar plan to improve roadways, add a new metro from Kuwait to Silk City, and a causeway. Another huge undertaking is the development of new public housing, which hopes to hold around 110,000 people. The need for this stems from our government to keep a sustainable economy with a very strong infrastructure.
We have also kept a very tight leash on the debt of the nation. The government of Kuwait has around 1 billion US dollar of debt accumulated. This model shows that a government should not have to spend more than they tax, as the government not only has kept control on the debt, and maintained a large budget to create the infrastructure that is has been able to create. Thanks to the infrastructure developed from the money.
Kuwait believes the way to a sustainable economy is through an efficient infrastructure system, where workers have a quick method of getting to and from their workplaces. This method of dealing with the economy is very effective, and we encourage other countries whom have developed to follow our model. The idea is to not spend more than you tax, and on a mucher larger scale, keep the country out of debt.
Kuwait would hope to have all countries that have developed adopt a plan similar to our own, and would like to say that the style of economics we have developed has proven very beneficial to us, and we would hope to help other countries adopt are plan.
Oxford Business Group. "Kuwait Pushes Ahead with Infrastructure Build out." Oxford Business Group. Oxford Business Group, 21 July 2015. Web. 25 Oct. 2015
The World Factbook 2013-14. Washington, DC: Central Intelligence Agency, 2013 .
