As a form of suspense and provocation, magazines and newspapers often play with controversial headlines drawn from the words of the figures they interview. “I am worried about my country, my reserves, and Kuwait’s sustainability” is a confusing, troubling, and embarrassing headline when those words are attributed to the “Deputy Prime Minister and Minister of Finance,” Anas Al-Saleh. Anyone familiar with economics knows that the word “sustainability” means continuing to use resources without negatively affecting the resources of future generations. Yet through this headline, and before the Kuwaiti public, the minister was treated unfairly.

The headline did not attract me, as I am accustomed to this type of sensational banner from certain magazines of the 1990s. Nor did I feel curious to read the interview, because I knew the minister had nothing new to say. What drew me in, however, was the desire to correct the Kuwaiti public’s understanding of what the minister had intended. So I opened the interview and began reading.

It was an ordinary conversation with nothing new in it. It discussed the difficulties Kuwait faces in pursuing economic reform, the effect of democracy on that process, earlier warnings from the International Monetary Fund, developments in the annual deficit, and similar matters. Yet what was unfortunate in the interview was the minister’s “use” of the “strength” of Kuwait’s reserves, apparently believing that doing so would reinforce his position. Between the lines, His Excellency says: “Our reserves have exceeded 500 billion dollars, and the Kuwait Investment Authority achieves annual growth of 6.9%. I can still cover the deficit over the next five years, even if that growth were only 3%. But we do not wish to rely on this income in the state budget. Rather, we wish to benefit from the decline in the price of oil in order to implement reforms and achieve fiscal sustainability.”

The question, then, is this: does that increase include the amounts transferred annually into the reserves from the state budget? If the answer is yes, then the dilemma lies in the poor management of the Kuwait Investment Authority in generating high profits from reserve investments. If the answer is no, then the other dilemma lies in your use of the reserves’ profits to cover the deficit as a way of strengthening your position before the interviewer.

The other question is this: what if the price of oil had not fallen to this level? Would you still work to implement reforms in order to achieve fiscal sustainability? If the answer is yes, then why did you state that you wished to benefit from the decline in oil prices? And if the answer is no, then that is a catastrophe.

Here, I find His Excellency the minister in an unenviable position. In my humble view, he was not successful either in the “headline” or in the “content.” And if His Excellency, “as a Kuwaiti citizen,” is worried about Kuwait’s fiscal sustainability, then his concern is justified — so long as the minister remains the minister.

How does public obligations become a reform tool rather than just a title?

A state’s financial strength weakens as fixed obligations expand, because the room for reform narrows even when revenues appear large. When future generations is ignored, the idea becomes a limited procedure that does not change the wider path.

How does public spending become a reform tool rather than just a title?

Productive spending adds capacity or productivity, while spending that repeats obligations expands the burden without building new income. When future generations is ignored, the idea becomes a limited procedure that does not change the wider path.

How does fiscal sustainability and public reserves affect Kuwait?

Its effect appears in how costs, incentives, and resources are managed, and in Kuwait's ability to turn decisions into sustainable value. The direct context is a finance minister’s remarks on Kuwait’s reserves, oil prices, and fiscal sustainability, questioning the logic behind his argument.

How does fiscal sustainability become a reform tool rather than just a title?

Sustainability is not secured by revenue size alone; it depends on turning resources into renewable financial capacity while controlling recurring obligations. When future generations is ignored, the idea becomes a limited procedure that does not change the wider path.