Underpinned by rising commodity prices and, consequently, increased domestic spending, Kuwait’s banking sector performed well in the 18 months to mid-2018. The industry posted net profit growth of 8.9% and total asset growth of 5.9% to $251.9bn in 2017, even as local banks moved to adhere to a raft of new provisioning rules. With the price of crude more than doubling from $28 per barrel in...
Kuwait
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In order to meet rising domestic demand and free up oil for export, Kuwait is increasing investment in solar energy, providing opportunities for technology and service providers.
Economic update | Kuwait: Year in Review 2018
15 Jan 2019
Kuwait’s economy returned to growth in 2018, with higher input from the non-oil sector and increased government investment combining to drive expansion, while reforms to the capital markets and banking sectors should attract further inflows moving forward.
Kuwait has moved forward with plans to ease traffic congestion and improve transport infrastructure, with the authorities announcing that a major road project is close to completion, while a series of others are ahead of schedule.
Articles & Analysis | Kuwait Investment Authority, one of the world's largest sovereign wealth funds and a key public asset from The Report: Kuwait 2018
Despite volatility in international oil prices and delays in the implementation of economic diversification strategies, ratings agencies and the IMF agree the outlook for Kuwait is strong and stable, as it is home to substantial oil reserves and one of the world’s richest sovereign wealth funds (SWFs). Geologists calculate domestic oil fields...