CBK calling to free Kuwaiti land May 7, 2008
Posted by mylastresort in analysis.Tags: CBK, Central Bank of Kuwait, Free, Governer, inflation, kuwait, Land, Real Estate, SHEIKH SALEM Abdul-Aziz al-Sabah
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The central bank of Kuwait is urging the government to tackle record inflation by giving away more land
and resisting calls to boost spending since inflation levels jumped to a record of 9.5 percent in January, driven by a 16.1 percent rise in rents and 7.7. percent rise in food costs.
“Monetary tools alone won’t be able to curb inflation… This helps bring down prices of production of goods and providing of services… This helps in lowering the impact of severe fluctuations in prices of major international currencies on local inflation”
- Sheikh Salem Abdul-Aziz al-Sabah, Central Bank of Kuwait Governer
Inorder to lower inflation the government should provide more land, which is almost entirely owned by the state, to businesses and individuals. By permitting the sale of lands, not only will it control the surging inflation, but will also increase health care facilities, decrease road congestion, allow more housing, control prices of housing, among much, much more.
I agree with them.. Kuwait should start expanding the city and the suburbs outwards.. mashalla we have lots of land to solve those problems.. and the land that the government gives to newlyweds has been decreasing over the years.. since the waiting list is looooooong, theres plenty of time to build new suburbs for them.