Kuwait: From Reconstruction to Accumulation for Future Generations

Occasional Papers, April 30, 1997

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Kuwait: From Reconstruction to Accumulation for Future Generations

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Bibliographic details

• Authors: John F. Wilson, Susan Fennell, Nigel A Chalk, Mohamed A. El-Erian, Alexei P Kireyev
• Published: April 30, 1997
• Series: Occasional Papers
• DOI: https://doi.org/10.5089/9781557756237.084

Executive summary

• Kuwait has made an impressive recovery from the damage and disruptions caused by the Iraqi invasion in 1990, evidenced by:
  • restoration of basic economic and social services,
  • recovery of the oil sector,
  • rehabilitation of infrastructure,
  • steady reduction in the fiscal and balance of payments deficits.
• The paper examines recent developments in the Kuwaiti economy and discusses medium-term policy challenges: saving for future generations, strengthening the financial sector, and improving the functioning of the labor market.

Key findings and analysis

• Recovery indicators:
  • Restoration of basic economic and social services.
  • Recovery of the oil sector.
  • Rehabilitation of infrastructure.
  • Steady reduction in the fiscal and balance of payments deficits.
• Medium-term policy challenges identified:
  • Saving for future generations.
  • Strengthening the financial sector.
  • Improving the functioning of the labor market.

Policy implications and priorities

• Emphasize policies to:
  • Accumulate resources for future generations.
  • Reinforce financial-sector stability and resilience.
  • Reform labor-market functioning to improve outcomes.

Publication and metadata

• Authors: John F. Wilson, Susan Fennell, Nigel A. Chalk, Mohamed A. El-Erian, Alexei P Kireyev
• Date: April 30, 1997
• Pages: 59
• Volume: 1997
• Issue: 003
• Series: Occasional Paper No. 1997/003
• DOI: https://doi.org/10.5089/9781557756237.084
• Stock No: S150EA0000000
• ISBN: 9781557756237
• ISSN: 0251-6365
• Subject tags: Banking, Budget planning and preparation, Capital spending, Current spending, Disposable income, Expenditure, National accounts, Public financial management (PFM)
• Keywords: Budget planning and preparation, Capital spending, Current spending, Disposable income, government, Middle East, OP, outlay, policy implication, policy instrument, policy priority, public finances, revenue, section III

Kuwait: From Reconstruction to Accumulation for Future Generations (Occasional Paper No. 1997/003), April 30, 1997.