Report: Can domestic innovation boost Kuwait's Covid-19 recovery prospects?
26 Mar 2021
Although still largely reliant on hydrocarbons, Kuwait has a number of macroeconomic strengths that helped it withstand the most severe impacts of the pandemic, including high GDP per capita, a strong sovereign credit rating and a deep sovereign wealth fund. While research and development (R&D) expenditure and investment lags behind the global average, Kuwait is home to strong scientific and research institutions that supported efforts to address pandemic-related challenges through innovation. As policymakers look to stimulate a recovery from the pandemic, increased R&D spending could help to accelerate economic diversification and generate domestic solutions for sustainable development.
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