Kuwait: Staff Report for the 2014 Article IV Consultation
December 9, 2014
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This 2014 Article IV Consultation highlights that economic activity in Kuwait picked up in 2014. Non-oil growth is projected at 3.5 percent driven by a combination of continued increase in domestic consumption and some pick-up in government capital spending and private investment. Flat oil production would keep the overall real GDP growth positive at 1.3 percent. The average inflation rate is forecast to remain at about 3 percent. The current account and fiscal surpluses are expected to remain high. The medium-term economic outlook is favorable. Non-oil GDP growth is expected to pick up to 4 to 5 percent in the medium term, supported by government investment in infrastructure and the oil sector, and by consumption.
Subject: Banking, Commodities, Expenditure, National accounts, Oil, Oil prices, Prices, Public investment and public-private partnerships (PPP), Public investment spending
Keywords: bank, capital expenditure, central bank, CR, expenditure projection, flat oil production, GDP growth, Global, government Project cycle, growth in Kuwait, inflation rate, investment company, ISCR, Kuwait, Oil, oil GDP, oil GDP growth in Kuwait, Oil prices, private sector competition, private sector job, Public investment and public-private partnerships (PPP), Public investment spending
Pages:
61
Volume:
2014
DOI:
Issue:
333
Series:
Country Report No. 2014/333
Stock No:
1KWTEA2014001
ISBN:
9781498372541
ISSN:
1934-7685
