The Report: Kuwait 2017

With oil making up approximately 60% of the country’s GDP, Kuwait, like its Gulf neighbours, has had to adjust to the new economic realities caused by lower oil prices. However, strong financial buffers have ensured that the country has been able to weather the storm, while a renewed appetite for investment reform bodes well for private sector players. In its long-term policy document, New Kuwait, the government has laid out a comprehensive roadmap that targets wide-reaching socio-economic reforms by 2035. Greater private sector activity is envisioned across the economy, as is more employment for Kuwaiti nationals. The plan is also committed to subsidy reform in a bid to reduce the country’s reliance on cheap fuel, water and electricity. In the near term, capital investment will continue apace with plans to invest KD34bn ($112.5bn) by 2019.