The Kuwait Investment Authority (KIA), the manager of the country’s sovereign wealth fund, is playing an increasingly active role in the domestic and international economy. This bodes well for the country’s growth prospects, and for a future in which national income no longer depends on the global price of oil.
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?
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