Credit issuance at Kuwait’s banks rose by 5% in 2012 and by 5.7% in the first six months of 2013, as per data from the KIPCO Asset Management Company (KAMCO). These figures – which represent the highest annual lending since 2009 – can be attributed to the steadily improving financial situation at many of the country’s banks and a rapidly...
The Kuwaiti government’s increased efforts to bolster foreign direct investment (FDI) could have a significant impact on its offset activities in 2014, as the state’s National Offset Company (NOC) moves to roll out new partnerships between offset obligors and private investors. Although progress has been moderate since the programme’s...
Small and medium-sized enterprises (SMEs) are set to play an increasingly important role in Kuwait’s economic diversification, following the recent government decision to roll out a multibillion-dollar SME fund aimed at reducing youth unemployment and encouraging entrepreneurship. Although SMEs comprise the majority of registered companies in...
Public spending in Kuwait has come under increased scrutiny in recent years, with a host of domestic and international experts warning that expenditure levels are unsustainable. Kuwait’s welfare system guarantees housing, education, health care and one-off grants to its citizens, as well as cheap power. However, the state is moving forward on...
The government has identified private sector participation as a critical facet of its five-year, $109bn spending plan, reforming its regulatory framework in recent years to enhance the state’s attractiveness to foreign investors. Kuwait has traditionally ranked at the bottom of GCC nations in terms of foreign direct investment (FDI) inflows,...
Seven decades of expanding oil production have led Kuwait to become one of the richest nations in the world, with strong oil revenues driving years of successive budget surpluses, leading the state’s young population to boast one of the world’s highest GDPs per capita. Kuwait’s generous welfare system has guaranteed free education, health care...
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