His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah delivered at Sief Palace on Monday a speech at the inauguration of deliberations of the consultative committee tasked with reviewing the international and domestic economic developments. The gathering was attended by HH the Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, National Assembly Speaker Jassem Al-Kharafi and HH the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah. HH the Amir said in his speech that following the accelerating economic developments witnessed by the world today, their repercussions and complications "pose a serious threat to our national economy and the future of our generations to come." The backbone of security in any country is the economy, HH said, and "we, as we thank God for what he granted us of the blessings and assets allowing the establishment of a strong, solid and stable economy that ensure reasons for progress, prosperity and a decent life for the people of Kuwait in the present and the future, however, the practice in abusing financial surpluses has led to a number of structural imbalances in our national economy, thus, becoming a heavy burden and genuine concern threatening the country's future and its ability to implement its programs and meet its various financial obligations." HH the Amir went on to say that "in the face of the continuation of irresponsible wasteful consumption and excessive increase in current non-productive expenditure, these distortions and imbalances have deepened and their effects and consequences have been complicated, and I am not here to diagnose this problem and discuss the details, as you are experienced and competent in this field but what our economic reality is witnessing anticipates risks that are difficult to predict their limits of effects, in a way that does not tolerate being slow in addressing it." HH the Amir called for adopt a package of measures to ensure correct course of the general budget of the state and activating the role of the private sector to shoulder its responsibility to participate actively in economic activity and to address other imbalances, which impede our national economy. "So the total of such developments and their implications requires of us a serious stand to review our situation and take the necessary and serious steps to protect our national economy and ensure a decent life for the people of Kuwait and their generations to come .. it is our responsibility before God, the homeland and the people." HH the Amir pointed out that the aim of this meeting is to discuss this issue in all its dimensions and to provide practical suggestions to address it, leading to completion of the desired goals that guarantee to improve and strengthen the capacity of the State of Kuwait to meet the economic challenges and achieve the sought developmental objectives. HH the Amir added that each reform has a cost and sacrifices, but within a minimum level so as to achieve balance between interests of the country and the aspirations of citizens and their desires, "and I am convinced that my brothers and citizens, as always will be at the level of national responsibility in understanding and adopting any steps that achieves the national interest and for generations to come." HH the Amir also called on members of parliament to reflect the responsible cooperation in the understanding and support of proposed procedures and approaches to achieve the desired objectives as a national project that includes everyone. "I am confident that when you defy to this national and noble mission, you will be assisted by studies and research by sincere national minds that will help you in your quest to reach the economic goals and sought objectives, and I invite you to build on these studies and research and try to take advantage of them and bring about your visions and views to ensure the speed implementation and accomplishment of your mission in the service of the hopes and aspirations of the people of this dear homeland," HH the Amir said. HH said he has full confidence in "your care and ability to reach the best solutions and most successful ways to address imbalances witnessed by our economic situation and strengthen our national economy in all sectors and fields, but let me mention some things that I see must be taken into account while presenting your views and your comments in this regard." First: Taking into account those with low incomes in all measures proposed. Second: Solutions must be realistic and be part of the capabilities and capacities available. Third: Selecting an appropriate mechanism of action for the implementation of solutions to ensure proper implementation in accordance with a specific timetable and effective monitoring and evaluation. Fourth: Commitment to the full standards of transparency and equal opportunities in the implementation of activities, programs and various projects in order to achieve the integrity required to ensure a good investment of state resources and to devote maintaining of public money. Fifth: Overcoming conventional frameworks in dealing with the requirements of economic reform and creating better and faster ways and the most flexible to achieve the desired goal. Sixth: Good definition and marketing of proposed programs to the citizens and use of the media with a message aiming to raise awareness of the contents of these programs and their feasibility and the benefits that can accrue to the citizen through them and achieve the necessary guarantees for their generations to come for a better life. His Highness the Amir said he commissioned HH the Prime Minister Sheikh Nasser Mohammad Al-Ahmad Al-Sabah or any of his deputies to follow the work of this committee and get the job done, hoping that the committee shall make a report of the results of its actions and recommendations as soon as possible and within a limited timeframe.