Buoyed by surging oil revenues, strong public finances, and a young and growing population, Kuwait is now moving toward a period of renewed growth after making a strong rebound from the global economic crisis. In 2011 the country’s GDP rose by an estimated 5.7%. According to projections from the International Monetary Fund (IMF), Kuwait will record...
In recognition of its high per-capita GDP and strong external and fiscal balance sheets, Kuwait’s long-term foreign and local currency ratings were recently upgraded to AA from AA- under Standard & Poor’s revised methodology for rating sovereign governments. Under the revised criteria, GDP per capita and fiscal and external balances carry...
How will a fragile global economy and slower growth in oil demand affect production quotas?
What are the main lessons that can be taken away from the global financial crisis and what do they mean for doing business in Kuwait in the future?
Like many other GCC states, Kuwait has experienced rising inflation over the past two years as the country has recovered from the global economic crisis, and as oil, food and commodity prices have risen worldwide. Nevertheless, inflation is not expected to reach pre-crisis highs in the near term, and the government has maintained an accommodative...
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