gcc austerity

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Kuwait’s Emir Tells New Parliament Austerity is Inevitable

KUWAIT, Dec 11 – Cutting public spending has become inevitable because of the sharp drop in oil prices, Kuwait’s emir on Sunday told a new parliament that was elected partly by voters protesting against austerity policies. Kuwait is seeking to plug a budget deficit officially projected at 9.5 billion dinars ($31 billion) for the current

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