The Macroeconomic Impacts of Parliamentary Dissolutions in Kuwait

I. Introduction

Throughout the years, multiple instances of parliamentary removal have been ordered by the King of Kuwait with the hope that it could solve the country’s political, economic, and social issues. This raises the critical research question: What are the macroeconomic impacts of the parliamentary dissolutions in Kuwait? This research paper highlights how the recurring political disputes impact economic stability and the welfare of the public in Kuwait. Over the periods discussed in this research, dissolutions have been caused by different factors which include corruption, misconduct, electoral disputes, political deadlock, and economic austerity measures. Each example shows broader themes of political unrest that overlap with economic challenges such as inflation and unemployment.

The common ties between the dissolutions lie in the dissolution’s focus on social welfare and political issues, though the economic consequences are inconsistent and not always directly tied to the political events. The frequent need for new elections also shows deeper structural issues within Kuwaiti politics, such as the Parliament’s frequent failure to sufficiently address public concerns due to internal conflicts among its members. The dissolutions note the challenges of balancing political and economic improvement while meeting the requests of a transparent and effective government. Looking into these historical events will provide an overall understanding of political change and its influence on economic stability and provide a look into strategies for long-term stability in Kuwait.

I conclude this paper on the subject with the observation that there are no prominently pronounced macroeconomic factors that could predict parliamentary dissolutions and norms sustaining those in Kuwait. Taking into consideration regional and global trends, it is evident that the factors behind the dissolution have a different impact on the economic stability of the country whereas some dissolutions lead to little or no clear impact on the economy. This observation brings out a debate as to how political risk in the country affects or facilitates economic growth, suggesting that other factors are responsible for the economic indicators in Kuwait.

Beyond Kuwait, drawing comparisons between its circumstances and those of other countries facing comparable levels of political dissolutions may provide insight into how a given country can lessen the risks that political instability poses to their economies and clear the path for the development of stronger political and financial systems. Furthermore, this research can offer insights into how political instability affects macroeconomic performance globally and present lessons that may be applied to scenarios outside of Kuwait.

The research paper is structured to start with background information. This section provides background information related to each political dissolution in Kuwait. The following section presents my graphs and an interpretation of the data; looking into the trends and analyzing the consequences of the political dissolution(s) on the different macroeconomic variables. The next section expands on the research question and looks into oil-related graphs and the economic impact of oil price fluctuations. Finally, the last section concludes the paper and summarizes the key findings and insights into how the political parliament dissolutions have affected the macroeconomic landscape of Kuwait.

II. Background Information

This section provides a summary of each dissolution with the purpose of understanding both the unique aspects of each dissolution, as well as the economic impacts that have been raised due to the political breakdown.

i) 1976 political dissolution;

A turning point in Kuwait’s political history was the dissolution of the parliament in 1976, which was brought on by conflicts between the ruling family and the National Assembly, which was becoming more powerful. While Kuwait’s King aimed at maintaining royal authority, parliamentarians desired political changes, increased legislative authority, and openness. Economic management was also an arguable issue, with the parliament demanding more responsibility in distributing oil revenues. These issues, along with the public dissatisfaction (over unmet expectations) for better services for the public, added to the cause of the dissolution.

Even though Kuwait’s economy was still largely dependent on its oil wealth, the dissolution of the country in 1976 highlighted the increasing pressure that population growthᅳespecially that of foreign laborᅳwas placing on public resources. As a result, government spending rose to keep up with the demands of the growing population, which led to rising inflation. This economic tension, when combined with dissatisfied public expectations for improved services, highlighted the need for more effective policies to control inflation and allocate resources to strike a balance between population pressures and development.

ii) 1986 political dissolution;

The dissolution of the parliament in 1986 was caused by differences between the National Assembly and the government, especially related to economic policy. The drop in oil prices globally greatly harmed Kuwait’s economy and resulted in lower national income and budget debt (“History of Kuwait”). Because of this, the National Assembly became increasingly critical of how the government handled the economic situation, calling for greater responsibility (“The challenges of Kuwait’s deadlocked political system”). The King of Kuwait, however, saw the forceful Assembly as a danger to the stability of the country, especially with the external dangers caused by the Iran-Iraq War. The parliament was dissolved due to political and economic aspects working together.

Kuwait’s excessive dependence on oil earnings was brought to light by the collapse of the Parliament in 1986, which corresponded with a worldwide decline in oil prices. The government was forced to implement austerity measures as a result of the subsequent budget deficits, but doing so left the economy exposed to fluctuations in the external oil market. The political consequences of these economic difficulties highlighted how urgently diversification of the economy is needed; Kuwait has not yet fully addressed this challenge, despite growing demand to develop resilience outside the oil sector. (“The Changing Characteristics of Migrant Workers in Kuwait”).

iii) 1999 political dissolution;

A mix of economic and political factors influenced the 1999 political dissolution in the country of Kuwait. A key element of the dissolution was the increasing political deadlock between the government and the parliament, especially over economic improvements and anti-corruption efforts. There was increasing public frustration with the slow pace of political and economic reforms. Citizens demanded better living standards, more job opportunities for nationals, and greater transparency in government affairs. The government’s inability to address these concerns effectively contributed to the political deadlock and the eventual dissolution.

Even with the strong Kuwaiti dinar that was supported by the increasing revenue due to the high oil revenues, the political instability in the country caused hesitation in the financial markets which caused investor caution. The monetary policies introduced by the Central Bank of Kuwait were essential in maintaining currency stability in the country (Central Bank of Kuwait (CBK) 1999 economic report). Unemployment rates in the country remained low, yet there were still concerns related to the sustainability of the jobs due to the increase in the number of individuals in the workforce. The dissolution made clear how important it is to have equitable regulations in place to handle the demands of both native-born people and foreign workers in the job market (“An Extraordinary Recovery: Kuwait following the Gulf War” By: Manal R. Shehabi ).

iv) 2006 political dissolution;

Kuwait’s 2006 dissolution was caused by political unrest caused by claims of corruption and poorly run governance. As the opposition in the Parliament questioned the government’s approach to handling economic issues such as housing shortages, economic diversification, and unemployment, pressure grew. The situation peaked when the King of Kuwait dissolved the parliament to put an end to the unrest, and to push for improvements targeted at stabilizing the nation, politically and economically. Public dissatisfaction which was highlighted by protests was an important factor since citizens grew frustrated with the slow response of the government to reforms (“Social Activism and Political Change in Kuwait Since 2006”).

Public dissatisfaction with rising living expenses, particularly housing costs, collided with the 2006 dissolution. The scarcity of reasonably priced housing for Kuwaiti nationals emerged as a major economic and social problem, even while inflation stayed low. A major factor in the political instability was the scarcity of housing, which was made worse by the delayed efforts to diversify the economy. This led to protests and discontent. This dissolution made it clear that to combat the rising expense of living, the government must give domestic infrastructure and housing construction top priority.

v) 2008 political dissolution;

Political tensions between the legislative and executive bodies of the government caused the 2008 dissolution to happen; a standoff where the Parliament members aggressively questioned the ministers, especially with the increased claims of a corrupt government. Additionally, there were calls for more aggressive reforms in key areas like the judiciary and social policies. The National Assembly was dissolved by Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah in March 2008, claiming an internal dispute that made it impossible for the government to carry out its duties. The decision was made as a result of Parliament’s persistent involvement in political affairs, particularly economic policy, which created a disruptive environment. To establish closer ties between parliamentarians and the executive branch, the Emir worked to facilitate new elections.

Economically, the 2008 dissolution brought concerns other than the dependency on oil revenue (“Potential reforms in Kuwait aim to boost economic resilience”). In contrast to previous years, Kuwait was trying to deal with the global financial crisis at this time, which made the country’s economic risks worse (“The Crisis of the Era: Economic Decline in Kuwait”). Investor trust in Kuwait’s governmental stability declined when global markets collapsed, causing significant energy and infrastructure projects to be delayed. The deadlock in politics made matters worse, frustrating businesses and the general public with delayed progress.

vi) 2009 political dissolution;

The political dissolution in 2009 reflected the ongoing problems between the reformist lawmakers and the executive branch of the government due to claims of the mishandling of public funds by government officials. Parliament members demanded changes to the electoral process to reduce the influence of the government. Political groups, at that time, called for changes to the constitution, for they wanted to limit the control of the government over key institutions and increase political freedom. 2009 also saw increased political activism for a more transparent political system. These demands for improvements conflicted with government efforts to maintain control over parliamentary processes, destabilizing Kuwait’s legislative environment (“Kuwait’s Dissolved Parliament Clears the Way for Stalled Economic Reforms”).

Kuwait’s economic reforms, which have been slowed down, were brought to light once more by the 2009 dissolution, specifically its reliance on hydrocarbons. Even with the wealth from oil exports, attempts to diversify the economy and make investments in non-oil industries were hindered by frequent instability in politics. Due to these delays, Kuwait was unable to keep up with its neighbors in the area, who were making greater strides in their attempts to draw in international investment and create alternative sectors. The breakdown of economies strengthened the idea that long-term sustainability required economic diversity. (“National Identity and Regime Security in Kuwait: The Amir’s Political Puzzle”).

vii) 2011 political dissolution;

The 2011 dissolution of the Kuwaiti parliament occurred within the larger framework of the Arab Spring, which spread over North Africa and the Middle East. Even though Kuwait did not experience the violent “risings” seen in other countries, the regional campaign for greater political freedoms and transparency greatly influenced the local political conditions. When high-profile corruption scandals involving major government figures and even members of the governing family arose, tensions increased. Relations between the Parliament and the executive branch were increased when the Parliament called for investigations to hold these officials accountable. The government and lawmakers got into a deadlock because of its resistance to these initiatives. Inspired by the Arab Spring, public protests in Kuwait grew in intensity, with citizens demanding greater political freedoms, anti-corruption measures, and economic reforms. The dissolution was seen as a way to address these demands and prevent further escalation of unrest (“Kuwait’s Emir dissolves parliament”).

In addition to taxing the government’s administrative resources, the political unrest of 2011 had wider economic effects. During this time, concerns over accountability and transparency in the use of national wealth were raised, drawing criticism for Kuwait’s management of one of the largest sovereign wealth funds in the world. Fiscal policies, particularly investment in essential sectors outside of oil, slowed as a result of the government’s inability to implement important economic reforms because of political disagreements. Kuwait’s budget was further put under strain at this time due to the instability of the world oil price. The public sector in Kuwait, which employed the vast majority of the labor force, was becoming increasingly inefficient, raising worries. The growing public wage bill continued its impact on the economy in the absence of any reform (“Kuwait: At the Crossroads of Change or Political Stagnation”) & (“A Look At The State Of Kuwait’s Political Landscape – Analysis”).

viii) 2012 political dissolution;

In 2012, Kuwait faced two different political dissolutions, each having its reasons and factors. The first dissolution was started by an order from the Constitutional Court, which “disapproved” the results of the February 2012 parliamentary elections, where the opposition group made influential goals. The decision of the court to restore the previous parliament caused widespread political tension, with the opposition group blaming the judiciary for overreach and the ruling elite for trying to maintain control. This caused the public to protest, with the citizens calling for new elections while questioning the legitimacy of the restored parliament (“Kuwaiti Emir dissolves parliament”).

Following changes to the election law that reduced the number of candidates each voter may selectᅳa move viewed by the opposition as an attempt to weaken their influenceᅳcame the second political dissolution of 2012. Opposition parties boycotted the December 2012 elections on political grounds as this decision seemed to increase unrest nationwide. A one-sided Parliament lacking both local and international legitimacy was the outcome of the electoral changes and the boycott that followed. The electoral law and the makeup of the new Parliament caused public dissatisfaction, which resulted in continued political instability. The Emir eventually had to dissolve the Parliament again and organize another round of voting as a result of the protests and requests for the cancellation of the new electoral laws.

Major delays in important infrastructure projects and foreign investments have been caused by the political deadlock. Foreign investors became cautious of Kuwait’s political situation, raising doubts about the country’s economic future. According to sources of information, contracts in the oil, transportation, and urban development sectors were running behind schedule. This resulted in the postponement of significant energy sector projects, including the much-anticipated development of the Al-Zour refinery (“Kuwait’s New Energy Strategy Takes Off but Oil’s Still Dominant”). In addition to slowing economic growth, this delay in energy and infrastructure projects also created doubts about Kuwait’s capacity to compete with Saudi Arabia and other Gulf neighbors in bringing in foreign capital and advancing its economy. The government was driven by the political unrest to put short-term populist spending ahead of long-term economic sustainability to calm the unrest, so subsidies increased, as well as public wages, and social benefits.

ix) 2016 political dissolution;

The parliament dissolution in 2016 happened due to the public’s resistance to the government’s austerity policies, which were applied in reaction to declining oil prices. These actions included reducing subsidies, especially for fuel and electricity, which raised the cost of living for Kuwaiti nationals. Kuwait’s private sector was hardly hit by the austerity measures, especially as a large number of companies were largely dependent on government contracts and subsidies from the state (“Kuwait’s private sector and austerity measures in light of falling oil prices”). Politically, the austerity measures caused much unrest in parliament, especially from opposition members who attacked the government’s economic reform approach, saying it was too dependent on cutting public spending instead of looking into other revenue flow. During the elections, opposition candidates saw substantial support by resisting austerity, resulting in a more divided and difficult parliament that continued to oppose the execution of austerity measures (“How Long Can the Deadlock in Kuwait’s Parliament Last?”).

The dissolution in 2016 had an economic effect that was closely related to the government’s response to the reduction in oil prices, which had a significant influence on state revenue. Due to Kuwait’s excessive dependence on oil exports, the country’s budget debt was caused by the substantial decline in oil prices worldwide, which the government attempted to fix through austerity measures. In addition to cutting subsidies, these measures included suggestions to impose taxes, such as VAT, which were uncommon in Kuwait and faced strong resistance from the people. A state of economic uncertainty caused by the possibility of new taxes and subsidy declines affected consumer confidence and spending patterns across. The subsidy cuts directly impacted consumer prices, leading to inflationary pressures that affected the purchasing power of Kuwaitis (“Kuwait’s private sector and austerity measures in light of falling oil prices”).

x) 2022 political dissolution;

The parliament dissolution in 2022 was mainly caused by indifferences between the National Assembly and the executive branch of the government. There were issues related to disagreements on the government’s approach to fixing the economy post the COVID-19 pandemic and disputes regarding the constitutional power of the King of Kuwait. Members of parliament’s ongoing disputes, in which they accused ministers of corruption and blocked government efforts toward fiscal change and economic diversification, defined the deadlock. Due to this, Kuwait found it difficult to move on with major initiatives like the $86 billion Silk City and the Mubarak Al-Kabeer Port, both of which are essential to the nation’s efforts to diversify. Legislative deadlock caused delays for these projects, demonstrating how political unrest directly affected Kuwait’s development objectives and economic stability. Thoughts that the National Assembly had turned into a barrier to development rather than a tool for advancement and that its frequent dissolutions served as a way to change the political landscape and address public complaints about economic management and governance, were other factors contributing to public dissolution (“Will dissolving parliament fix Kuwait’s political crisis?”).

Kuwait’s 2022 parliamentary dissolution severely disrupted the country’s economic environment and worsened problems. The Public Authority for Investment’s efforts, which are essential for drawing in foreign investment, have become ineffective, which is one of the major effects. Kuwait’s ranking on the World Bank’s Ease of Doing Business index fell drastically as a result of the political conflict, raising questions about the effectiveness of regulations and the amount of bureaucracy. (World Bank, 2023). In addition, local companies reported feeling increasingly uneasy about their operational stability, which caused a halt in domestic economic activity because they were hesitant to grow or make investments in the face of political unrest (Kuwait Times, 2023). Kuwait’s diversification objectives were hampered by this atmosphere, which also put the country’s general economic stability in jeopardy.

xi) 2024 political dissolution;

As tensions over social and economic reforms increased, Emir Sheikh Mishal al-Ahmed al-Sabah dissolved the National Assembly on May 10, bringing in Kuwait’s 2024 political dissolution. A dispute between the government and the opposition-dominated parliament, which had criticized the government’s handling of social welfare, inflation, and unemployment concerns, was the primary cause of the dissolution. The Emir stated that the parliament was abusing its power and impeding economic development, especially by delaying the execution of critical changes associated with Kuwait’s Vision 2035 plan (Kuwait Times, 2024). This breakup underscores continuous attempts to strike a balance between legislative and executive powers in the nation’s semi-democratic system, which fits Kuwait’s history of political impasse as no parliament has served out its entire term since 2016 (Al Jazeera, 2024).

Kuwait’s 2024 parliamentary dissolution has had a direct and significant impact on the country’s economy, especially because it has interfered with crucial policy-making procedures related to fiscal management and diversification initiatives. A number of economic reform initiatives, including urgently needed tax reforms and measures to support non-oil sectors, have been delayed in passing due to the National Assembly’s suspension (Kuwait Times, 2024). Due to investor anxiety brought on by this political deadlock, foreign direct investment (FDI) inflows into Kuwait have further slowed as the country’s regulatory framework is still unclear (Gulf News, 2024). Furthermore, the persistent political unrest has intensified worries regarding public sector expenditure, since the dissolution has prevented budget approvals essential for social welfare and infrastructure projects (Al-Monitor, 2024). A lengthy political deadlock could result in a negative outlook on Kuwait’s credit rating, increasing borrowing costs and further taxing the economy at a time when economic reforms are essential for long-term sustainability, according to warnings from international credit agencies about the country’s fiscal trajectory (Fitch Ratings, 2024).

III. Macroeconomic Impacts of Parliamentary Dissolutions

This section examines the effects of the parliament dissolutions (shown by the red dots) on several macroeconomic indicators, including GDP, Gross National Income, and Foreign Direct Investment.

This figure shows the changes in Kuwait’s GDP growth rate, highlighting times of political dissolution (marked by the red dots) and their impacts on GDP.

FIGURE 1 shows Kuwait’s GDP in billions of 2024 USD from 1974 to 2023. The red dots mark the years when parliament was dissolved. From 1974 to the late 1990s, the GDP remained low and stagnant, below USD 50 billion. However, there is a clear increasing trend starting in the early 2000s and becoming steeper about 2005. This strong GDP growth is interrupted by economic downturns that correspond with legislative dissolutions (2006, 2008, 2009). While GDP continues to rise, particularly between 2010 and 2015, each dissolution is accompanied by a slowing or reduction in GDP. Notably, there is a significant dip in 2020, most likely reflecting the effects of global crises like the COVID-19 pandemic. Nonetheless, the GDP improves until facing another drop in 2023, following the final breakdown.

This figure shows the changes in Kuwait’s GDP growth rate, highlighting times of political dissolution (marked by the red dots) and their impacts on government spending.

FIGURE 2 shows government spending, which has been steadily increasing, notably after 2012, with expenditure rising from over 20 billion USD to more than 60 billion USD by 2019. dissolutions in 2006 and 2009. The year 2022 appears to correspond with decreases in government spending, implying that political instability influences fiscal policy. Following the 2016 dissolution, there was a substantial increase in expenditure, which peaked in 2019. However, from 2020, expenditures drastically decreased, corresponding with the dissolution in 2022.

This figure shows the changes in Kuwait’s Total foreign direct investment inflows, highlighting times of political dissolutions (marked by the red dots) and their impacts on FDI.

FIGURE 3 shows Kuwait’s FDI inflows in millions of 2015 USD from 1990 to 2022, with red dots indicating legislative dissolutions. Between 1990 and 2005, FDI inflows fluctuated significantly, with the majority of periods seeing low or negative inflows (showing capital flight). A large spike happened in 2010, reaching over 2,000 million USD, but it soon sank after 2012, when the parliament was dissolved. Following that, inflows remain substantially lower, with slight variations, and do not return to the high levels observed in 2010-2012. Following the dissolution in 2022, FDI inflows are expected to fall further. This graph shows a strong negative association between political dissolutions and FDI inflows. The significant increase in FDI after 2010 signals a period of economic liberalization or confidence, but frequent dissolutions undermine this confidence, causing FDI to fall during politically uncertain periods.

This figure shows the changes in Kuwait’s Total foreign direct investment outflows, highlighting times of political dissolutions (marked by the red dots) and their impacts on FDI.

FIGURE 4 shows foreign direct investment outflow from 1990 to 2022 shows some significant changes, especially in the region of the red dot-marked times when Kuwait’s parliament was dissolved. The 1990s and early 2000s had a relatively low level of FDI outflows that fluctuated between minor gains and losses. Considering the several instances of parliamentary dissolution, foreign direct investment (FDI) demonstrated a notable rise, equivalent to over $10 billion, between 2004 and 2008. Following 2011, and particularly following the 2008 global financial crisis and multiple parliamentary dissolutions, foreign direct investment (FDI) outflows experienced a significant drop, with 2022 showing notably negative figures.

This figure shows the changes in Kuwait’s Gross National Income, highlighting times of political dissolutions (marked by the red dots) and their impacts on GNI.

FIGURE 5 shows GNI per capita from 1974 to 2023 shows a general increase interrupted by noticeable fluctuations, especially during times of legislative dissolution. GNI per capita increased steadily between the mid-1970s and the late 1990s, mainly undisturbed by political instability. But there is a noticeable increase between 2005 and 2008, reaching a peak of about $60,000 per person during a time of strong economic growth in spite of multiple parliamentary dissolves. There was a significant drop in GNI per capita over the following few years from 2009 to 2011, which was characterized by additional dissolutions. This decline is probably due to both domestic political instability and global economic difficulties. After a mild recovery from 2013 to 2018, GNI per capita stabilizes but stays lower than its 2008 peak, indicating a more moderated economic environment.

This figure shows the changes in Kuwait’s Inflationary prices, highlighting times of political dissolutions (marked by the red dots) and their impacts on Inflation.

FIGURE 6 shows a general downward trend in inflation rates over time can be seen in the inflation graph from 1974 to 2023, with noticeable peaks around times of legislative dissolution. Inflation was extremely high in the 1970s, peaking at 15%, and then slowly fell in the 1980s and 1990s. However, there was a significant rise in inflation in the middle of the 2000s, which peaked in 2008 at more than 10% and linked with both the global financial crisis and the dissolution of national parliaments. Despite ongoing political unrest, inflation has been reasonably controlled since 2008, hovering between 2% and 5%. Thus, dissolutions might have a short-term effect on inflationary pressures, but larger economic variables are generally more important in determining Kuwait’s overall inflation trajectory.

IV. Alternative Discussions

This section examines the crude world price of crude oil, especially during times of the Kuwaiti political dissolutions to see if changes in oil prices affected any political decisions in Kuwait.

This figure shows the world prices of crude oil; showing the price of oil during the political dissolutions (represented by the red dots).

The price of oil varies noticeably over time, rising and falling at clear times. Significantly, dissolutions tend to happen with periods of change in oil prices, such as the peaks in 2006, 2011, and 2013, when the price of crude oil (per cubic meter) passed 600 USD. It is important to keep in mind that supply problems, geopolitical conflicts, and shifts in demand are only a few of the factors affecting the price of oil; these dissolutions do not have a direct impact on oil prices. The relationship between political dissolutions and these pricing trends may indicate that these events occur during more common periods of political instability, given how Kuwait’s internal political dynamics frequently overlap with or are influenced by global economic conditions.

V. Conclusion

In conclusion, this research paper has looked into the parliamentary dissolutions in Kuwait, which occurred between the years 1976 and 2024, and the economic consequences of the dissolutions. The continuous political unrest has impacted the economy greatly; delaying important policies and slowing important projects that aim to diversify the economy of Kuwait. Problems such as inflation and slowed foreign investment show the challenges of directing an economy amidst political unrest. Even though these political dissolutions were meant to answer the issues happening within the legislature, they have highlighted the ongoing struggle to maintain fiscal discipline and follow long-term diversification plans in a fluctuating political environment.

Kuwait’s oil wealth has contributed significantly to the country’s economy, yet the nation is still subject to outside shocks and internal conflicts. The frequent dissolutions point to an ongoing difficulty in finding a balance between the importance of maintaining economic growth and changing politics.

Future research must focus on examining the long-term consequences of these dissolutions, particularly concerning Kuwait’s ability to overcome political dissolution and achieve its Vision 2035 goals. Beyond Kuwait, comparing its conditions to those of other GCC countries and nations facing similar political instability may also make it clearer how Kuwait, and others, can lessen the risks to their economies caused by political instability and clear the path for the development of stronger political and financial systems.

References

I. Background Information

1986 political dissolution;

1.  https://www.britannica.com/topic/history-of-Kuwait
2. https://www.newarab.com/analysis/challenges-kuwaits-deadlocked-political-system
3. https://www.cambridge.org/core/journals/international-journal-of-middle-east-studies/arti cle/abs/changing-characteristics-of-migrant-workers-in-kuwait/08E8699CC66058C03E4 DDE7F1C8B7494

1999 political dissolution;

1. https://www.cbk.gov.kw/en/redirects/download?compId=129085&esIndex=reports
2. https://api.research-repository.uwa.edu.au/ws/portalfiles/portal/96622207/15.20Shehabi% 2CM.AnExtraordinaryRecovery-KuwaitFollowingtheGulfWar.pdf

2006 political dissolution;

1. https://www.bakerinstitute.org/research/social-activism-and-political-change-kuwait-200

2008 political dissolution;

1. 1)  https://oxfordbusinessgroup.com/reports/kuwait/2024-report/economy/actualising-progre ss-a-positive-financial-outlook-and-potential-reforms-aim-to-boost-economic-resilience-a mid-global-economic-headwinds-analysis/
2. 2)  https://gulfif.org/the-crisis-of-the-era-economic-decline-in-kuwait/

2009 political dissolution;

1. https://worldview.stratfor.com/article/kuwaits-dissolved-parliament-clears-way-stalled-ec onomic-reforms
2. https://manaramagazine.org/2022/01/national-identity-security-kuwait/

2011 political dissolution;

1. https://edition.cnn.com/2011/12/06/world/meast/kuwait-parliament-dissovled/index.html
2.  https://www.mei.edu/publications/kuwait-crossroads-change-or-political-stagnation
3. https://www.eurasiareview.com/12012017-a-look-at-the-state-of-kuwaits-political-landsc ape-analysis/

2012 political dissolution;

1. https://www.aljazeera.com/news/2012/10/7/kuwaiti-emir-dissolves-parliament-3
2. https://agsiw.org/kuwaits-new-energy-strategy-takes-off-but-oils-still-dominant/

2016 political dissolution;

1. https://blogs.lse.ac.uk/mec/2016/03/02/kuwaits-private-sector-and-austerity-measures-in-t he-light-of-falling-oil-prices/
2. https://www.lawfaremedia.org/article/how-long-can-deadlock-kuwaits-parliament-last
3. https://blogs.lse.ac.uk/mec/2016/03/02/kuwaits-private-sector-and-austerity-measures-in-t he-light-of-falling-oil-prices/

2022 political dissolution;

1. https://www.newarab.com/analysis/will-dissolving-parliament-fix-kuwaits-political-crisis

2024 political dissolution;

1. https://www.arabnews.com/node/2513136
2. https://amereller.com/publication/suspension-of-kuwaiti-national-assembly-and-potential-legal-and-tax-reform/

Graphs:

I created them using the data from: https://databank.worldbank.org/home.aspx & https://ourworldindata.org/grapher/crude-oil-prices

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