Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
Although tapering the US Federal Reserve’s quantitative easing programme is likely to affect global liquidity and play a key part in growth prospects for 2014/15, the GCC economy is still forecast to expand by 4.1% for the year, and in Kuwait, where a handful of new PPP plans and deals are slated for 2014, there are promising signs that the year could be a landmark for economic growth and expansion.
Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah, on the short-term goals of the country
Christine Lagarde, Managing Director, IMF, on planning for the future
Targeting diversity: OBG talks to Faisal Al Ayyar, Vice-Chairman, Kuwait Projects Company
OBG talks to Meshaal Jaber Al Ahmad Al Sabah, Director-General, Kuwait Direct Investment Promotion...
OBG talks to Mohammad Al Hashel, Governor, Central Bank of Kuwait (CBK)
OBG talks to Riyadh Al Saleh, Chairman and CEO, Kharafi National
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