As a major global oil producer, Kuwait has come a long way in recent decades to overcome several key financial and political challenges. By continuing with efforts to diversify the national economy and reduce dependence on oil revenues, the country is also adding increased momentum to several large infrastructure projects. The authorities are also working to further integrate the country into...
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Chapter | Country Profile from The Report: Kuwait 2014
Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
Interviews & Viewpoints | OBG talks to Wasantha Kumarasiri, Managing Director, Independent Public Business Corporation (IPBC) from The Report: Papua New Guinea 2014
What will be the IPBC’s position within the restructuring of state-owned assets in Papua New Guinea through the Kumul corporatisations?
Articles & Analysis | Creating the foundations for broader-based economic development from The Report: Papua New Guinea 2014
Although economic expansion slowed in 2013 as construction on ExxonMobil’s $19bn Papua New Guinea liquefied natural gas (LNG) project wound down – albeit from 9.1% in 2012 to a still healthy 5.2% in 2013, according to the Bank of PNG (BPNG) – the country stands on the cusp of rapid resource-led growth. Despite ranking as the world’s 115th-...
Interviews & Viewpoints | OBG talks to James Marape, Minister of Finance from The Report: Papua New Guinea 2014
What were the factors behind Papua New Guinea’s better than expected economic performance in 2013?
Articles & Analysis | Improving spending of budgeted allocations from The Report: Papua New Guinea 2014
While rapid increases in government spending come at the right time in Papua New Guinea’s economic cycle, the key will be the timely execution of budgeted projects. Affected by low disbursement levels, particularly for its capital expenditure, the government is enacting key reforms to streamline projects and strengthen revenue collection. As...