Kuwait: Staff Report for the 2014 Article IV Consultation

International Monetary Fund

No 2014/333, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; investment company; Kuwait; bank; central bank; GDP growth; private sector job; growth in Kuwait; expenditure projection; flat oil production; capital expenditure; private sector competition; oil GDP; inflation rate; oil GDP growth in Kuwait; government Project cycle; Public investment spending; Oil prices; Public investment and public-private partnerships (PPP); Oil; Global (search for similar items in EconPapers)
Pages: 61
Date: 2014-12-09
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