Kuwait’s stock exchange is accelerating efforts to raise its profile both internationally and at home, expanding the range of products on offer and easing listing requirements, moves that could see it granted emerging market status by 2020.
Kuwait
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Economic update | Government spending and higher oil prices to boost Kuwaiti banking sector growth
10 Jul 2018
Increased government spending and higher oil prices are set to drive growth in Kuwait’s banking sector, with increased profits and liquidity supporting a recent rebound in activity.
Amid a backdrop of recovering commodity prices and stronger economic growth, in mid-May Kuwait decided to postpone introduction of value-added tax (VAT) until 2021, although it still intends to implement an excise tax as scheduled.
Stronger economic growth and increased domestic employment levels could increase access to credit for real estate in Kuwait, although a decline in the number of expatriates, along with excess stock, may pose challenges for the rental market.
An airport infrastructure expansion set to come into operation this year will help Kuwait keep pace with strong growth in passenger movements, as local carriers continue with network expansions and fleet upgrades.
Higher levels of public spending, supported by greater participation from the private sector, are expected to drive infrastructure projects in Kuwait over the short to medium term.