Economy

Although the recent dip in oil prices is undoubtedly a concern for Kuwait’s economy should prices remain depressed, the successive budget surpluses of recent years and the country’s low breakeven price on oil production mean the country is strongly placed to cope with lower prices without increasing production. Meanwhile, the government remains committed to maintaining capital expenditures and delivering the project pipeline outlined under the National Development Plan 2015-20, and foreign direct investment continues to grow as the government works to encourage foreign involvement in the local economy in a bid to diversify sources of investment. A number of positive policy reforms aimed at diversifying industry and strengthening private sector participation are likely to continue to support steady growth going forward.

This chapter contains interviews with Tariq Abdulsalam, CEO - Investments, Kuwait Projects Company; and Chairman, United Real Estate; Meshaal Jaber Al Ahmad Al Sabah, Director-General, Kuwait Direct Investment Promotion Authority; and Abdulwahab Al Bader, Director-General, Kuwait Fund for Arab Economic Development.