The Kuwaiti government has approved a four-year economic development plan that, if successfully implemented, could boost public and private spending and lessen the economy’s dependence on oil.
Economy
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Economic update | Kuwait: Plan in motion
11 Apr 2011
The need to relax rigid labour restrictions that enforce high severance pay and make it hard to fire staff is becoming a priority for Indonesia. With outdated employment laws affecting investor confidence and benefitting neither employers nor staff, the country is accelerating moves to update employment regulations.
Economic update | Qatar: Going into overdrive
23 Mar 2011
With the government and international agencies alike predicting GDP to expand by almost 20% this year, and a budget surplus in the double-digit billions, Qatar’s economy is set to outstrip nearly all others around the world in 2011. Just about the only cloud on the horizon is the return of demand-driven inflation, though even this concern seems likely to dissipate in the face of sustained growth.
Economic update | Turkey: Trade and diplomacy
18 Mar 2011
Trade and diplomacy took centre stage in 2010. In economic terms, it was a year in which Turkey was courted aggressively by both its Western partners and neighbours in the region. The country finished out 2010 with a number of trade agreements either inked or in the works, while the government made much headway in advocating Turkish business interests in its dealings with foreign partners. Meanwhile, Turkey’s main business centre, Istanbul, received a significant publicity boost thanks to its status as the European Capital of Culture for 2010.
Economic update | Saudi Arabia: Spending gets a boost
10 Mar 2011
Public spending is scheduled for a major boost in Saudi Arabia, with education, housing and social measures being specifically targeted by a new economic stimulus and support programme.
Economic update | Kuwait: Market realignment
1 Mar 2011
Once again signalling the government’s intent to realign the local labour market, officials announced on February 8 that the Kuwaiti Manpower Restructuring Programme has targeted the placement of 20,000 citizens in private sector jobs over the next two years. The announcement comes at a time of growth, when the country and wider region are beginning to shrug off the effects of the global economic crisis.