The government in Kuwait is weighing-up measures to rein in spending on subsidies and welfare programmes, responding to concerns that the national budget could slip into deficit by the end of the decade.
Kuwait
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Economic update | Kuwait looks to reduce subsidies
24 Feb 2014
Ports in Kuwait have performed well in recent years, supported by a national bid to increase both hydrocarbon exports and non-oil commercial shipping activity. However, while plans to upgrade facilities and improve access to new oilfields bode well for the industry, the sector also faces several challenges, led by fluctuations in global demand and regional competition.
The roll-out of fourth-generation long-term evolution (4G LTE) networks across Kuwait is expected to offer a boost to the mobile market. While the average revenue per user (ARPU) remains among the highest in the region, it has nonetheless been falling in recent years.
Economic update | Kuwait Year in Review 2013
26 Jan 2014
Strong consumer spending helped ensure economic growth in Kuwait this past year, although a slowdown in the energy sector meant the rise in GDP was modest. The outlook for the oil industry in 2014 is unclear, but there is an expectation that private consumption and the rollout of government infrastructure projects have the capacity to boost growth in the coming year.
A new national curriculum, possible regulations for private sector providers and plans to outsource certain functions in the school system are among changes Kuwait’s government has proposed for the education system.
Banks will be looking to end 2013 on a high note, after most of Kuwait’s lenders recorded encouraging results for the first three quarters of the year, with profits and lending activity on the rise, and prospects appearing sound for the final quarter and on into 2014.