Tax & Accountancy

After years of abundant public spending, GCC economies experienced a direct hit on their fiscal balances caused by the 2014 fall in oil prices. As such, Kuwait is following the regional trend of pursuing economic and fiscal reform programmes. Multiple government-led initiatives seek to support economic diversification, strengthen the private sector’s contribution to the economy and help keep the deficit under control. In this vein, the last few years have seen the authorities take positive steps towards sustainable development and economic growth by reducing bureaucracy and speeding up administrative processes, amending existing regulations and ratifying a number of new laws. This chapter contains an interview with Alok Chugh, Partner, Government and Public Sector Leader MENA, EY.