{
  "title": "Kuwait: Staff Report for the 2014 Article IV Consultation",
  "publication": "IMF Staff Country Reports, December 9, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/kuwait-staff-report-for-the-2014-article-iv-consultation-42501",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Economic activity and growth projections",
      "content": "- Non-oil growth in 2014 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.\n- Flat oil production would keep overall real GDP growth positive at 1.3 percent.\n- The medium-term 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."
    },
    {
      "heading": "Prices and external/fiscal balances",
      "content": "- The average inflation rate is forecast to remain at about 3 percent.\n- The current account and fiscal surpluses are expected to remain high."
    },
    {
      "heading": "Key drivers and policy-relevant factors",
      "content": "- Domestic consumption: continued increase is a primary driver of non-oil growth.\n- Public investment: a pick-up in government capital spending supports near-term non-oil growth and medium-term expansion through infrastructure and oil-sector investment.\n- Private investment: some pick-up in private investment contributes to non-oil activity.\n- Oil sector: flat oil production in 2014 constrains overall real GDP growth despite robust non-oil performance.\n\nSource: Kuwait: Staff Report for the 2014 Article IV Consultation (IMF Staff Country Report No. 2014/333).\n\n---\n\n Content in this bundle\n\n- Cr14333\n  - Cr14333 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr14333 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 9, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498372541.002",
    "Non-oil growth in 2014 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 overall real GDP growth positive at 1.3 percent.",
    "The medium-term 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.",
    "The average inflation rate is forecast to remain at about 3 percent.",
    "The current account and fiscal surpluses are expected to remain high.",
    "Domestic consumption: continued increase is a primary driver of non-oil growth.",
    "Public investment: a pick-up in government capital spending supports near-term non-oil growth and medium-term expansion through infrastructure and oil-sector investment.",
    "Private investment: some pick-up in private investment contributes to non-oil activity.",
    "**Cr14333**"
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