Macro - Country Economic Forecasts - Kuwait

Macro - Country Economic Forecasts - Kuwait

Preliminary figures indicate the 2023 contraction was sharper than expected, owing to a weaker non-oil growth & lower oil revenue. This drags down 2024 growth, with our real GDP growth forecast for Kuwait at 0.3% for 2024, particularly following the OPEC+ announcement that oil production cuts have been extended. We forecast a rebound over the next couple of years, with a full rebound early 2026, as production cuts are unwound.

Kuwait: Climate change and oil production cuts affect the economy
Forecast overview
Recent developments
Key drivers of our Short-term Forecast
downside risks remain significant
Economic risk
Economic risk evaluation
Economic development
Structure of the economy
Balance of payments
Policy and Politics

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