The Ministry of Finance has the authority to handle general
financial affairs in the State of Kuwait. It looks after
the treasury and properties of the State, international
economic cooperation and monetary investments, and compensatory
projects. It presents integrated financial system services
as well as developmental automatic systems for all financial
sectors in the country.
The Ministry's objectives are:
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to achieve a balance between the
projected budget and the aims and objectives of the State;
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to achieve fiscal and economic
balance by regulating imports, varying national income sources,
and managing public investments;
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to rationalise public funds by
applying tight fiscal control and integrated fiscal systems;
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to realise the benefit of government
imports either by the transfer of technology or by increasing
national income and to provide new jobs after studying the
benefits of office projects, cooperation agreements, etc;
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to achieve economic balance and
fixed rates of foreign exchange for the national currency;
-
to achieve international economic
cooperation;
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to rationalise the use of the State's
properties.
The Ministry's responsibilities include:
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Preparing the State budget and year-end statements
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Supervising the State treasury, implementing
tax systems and supervising imports and their expenditure
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Supervising tariff affairs
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Investing the funds of the State including the
Reserve Fund and the Future Generations Fund
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Providing required amenities, such as housing
to Kuwaiti employees
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Supervising the investments of private State
funds and coordinating the sale, use or rental of such with
the concerned authorities
-
Supervising the economic relationships with
all countries along economic, investment and monetary lines
and directing investments both within the country and outside.
