12/11/2024
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12/11/2024
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KUWAIT CITY, Nov 12: A government report on the budget for the 2024–2025 fiscal year revealed that 36 government agencies owed a total of KD 1.921 billion in debt as of September 2024. The report indicated that the debt decreased by KD 47 million during the same month, with the outstanding balance at the beginning of the month amounting to KD 1.968 billion.
This debt is primarily owed by individuals and businesses to various government entities. In this regard, informed sources cautioned about the slow pace of debt collection, particularly since a large portion of the debt is nearing its statute of limitations. Many of these amounts have accumulated over the years and are being carried over from one budget to another when they could be used to revitalize the state treasury and fund development initiatives in addition to pursuing legal action against non-payers.
The sources urged government agencies to adhere to new debt collection procedures and accelerate the digital transformation of service fee payments. They emphasized that public funds need to be protected and that cooperation among all relevant parties is essential to ensure effective collection.
By Mohammad Ghanem
Al-Seyassah/Arab Times Staff
