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Macro - Country Economic Forecasts - Kuwait

Publisher Oxford Economics
Published May 12, 2022
Length 6 Pages
SKU # OFE17169729

Description

Macro - Country Economic Forecasts - Kuwait

We continue to see non-oil sector growth of 4.7% this year, after increasing by 3.1% in 2021, propelled by high consumer spending and robust real estate sales. Surging oil prices and increasing oil production are also helping economic growth. But there are downside risks to the economic outlook from a distressed labor market, fiscal consolidation, slow progress on reforms, and worries about short-term liquidity needs amid political disagreements over debt financing. Overall GDP is still seen growing at 6.3% in 2022, compared with 2.5% in 2021.

Table of Contents

6 Pages
Kuwait: Robust growth outlook remains, despite political gridlock
Forecast overview
Recent developments
Key drivers of our short-term forecast
GDP growth to slow in the medium term
Downside risks remain significant
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

Currency Rates
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