Treating the oil addiction in Kuwait: proposals for economic reform

Hessah Al-Ojayan

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: In 2015, for the first time in 16 years, Kuwait reported a fiscal deficit of 2.71 billion Kuwaiti Dinars ($9.4 billion). The deficit was exacerbated by weakness in crude prices and mounting supply–demand imbalances in the global oil market. It is critical that Kuwait reacts with a fiscal contingency plan to avoid the uncertainties and volatility of depending primarily on oil to fund government activities. This paper aims to highlight the current economic condition and fiscal needs of Kuwait, as well as to propose a set of potential mitigating strategies for the government to consider.

JEL-codes: N0 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2016-09
New Economics Papers: this item is included in nep-ara and nep-ene
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Citations: View citations in EconPapers (1)

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