All Countries and All Sectors

Strong financial indicators in Kuwait have seen the country rewarded by a ratings upgrade. On July 20 Standard & Poor’s (S&P) announced that it was raising Kuwait’s long-term sovereign credit rating from AA- to AA, with a stable outlook. According to the credit rating agency, the economy’s strengths include high GDP per capita and healthy fiscal and external balance sheets, factors that have been accorded greater weight under S&P’s recently revised methodology for rating sovereign credit risk.

Increasing government spending and a renewed focus on international partnerships are paving the way for Indonesia’s education sector to open up to foreign universities with more public funding allocated to improving learning services.

While agriculture accounts for about 40% of its national GDP, Nigeria currently produces only a small portion of the fertiliser consumed by its farmers. However, a radical change is in sight, with the recent announcement that two new fertiliser production facilities will come on-line within the next few years.

The lifting of a rating agency’s temporary cloud over the Oman economy and a healthy forecast for GDP growth have combined to create an air of optimism in the Sultanate. On July 20 Standard & Poor’s removed Oman from CreditWatch, with the country’s long-term local and foreign currency rating at A, and the short-term rating at A-1.

The Philippines’ education system is in the process of being given a major overhaul, with an extension to the term of basic education and a broader curriculum. These changes are aimed at better preparing students to play a role in society and the economy, though critics of the scheme warn that benefits could be limited by a lack of resources and the rush to implement the project.

The Malaysian government is calling on the private sector to speed up the roll out of new information and communication technology (ICT) services, a move that will support the state’s long-term strategy of promoting a knowledge-based economy.