Kuwait entered the pandemic in a relatively resilient position thanks to strong fiscal buffers, favourable demographics and an advanced health care system that benefitted from sustained investment that was proportionally higher than many of its wealthy GCC peers.
– Economies in the region were hit by reduced trade volumes and lower oil prices
– Governments launched extensive stimulus packages to stabilise their economies
– Short-term recovery will be tied to oil prices and the resumption of travel
– The pandemic looks set to accelerate economic diversification efforts
As countries within the Gulf begin a gradual easing of Covid-19-related movement restrictions, the revival of the region’s aviation sector has come into focus. Effective recovery strategies will rely on reassuring passengers that sufficient health and the safety measures are in place.
With the coronavirus pandemic placing pressure on international trade and global supply chains, Kuwait has moved to strengthen its food security through increased international cooperation and investment in agriculture technology (agri-tech).
Kuwait’s experience of Middle East Respiratory Syndrome, a strain of coronavirus that first emerged in 2012, has stood it in good stead to respond effectively to the current Covid-19 pandemic.
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