KUWAIT, Oct 1 (Reuters) - Kuwait's government should takeall necessary measures to cut spending and current monetarypolicy settings are in line with economic developments, CentralBank Governor Mohammad al-Hashel said on Monday.
"We think it (the government spending) is very high and weshould take all the necessary actions to reduce the currentexpenditure and spend more on investment and capital expenditurebecause this is the way for the future and we have to securesufficient funds for future generations in order to continue theprosperity of our country," he told reporters.
Hashel, who spoke after a meeting of Arab central bankgovernors in Kuwait, also said he will not hesitate to changepolicy settings when needed and that the OPEC member's economycould grow 5-6 percent this year.
(Reporting by Martin Dokoupil and Sylvia Westall)
((Martin.Dokoupil@thomsonreuters.com)(+971 4 362 5832)(ReutersMessaging: martin.dokoupil.thomsonreuters.com@reuters.net))
Keywords: KUWAIT CBANKER/