Macro - Country Economic Forecasts - Kuwait
Our real GDP growth forecast for Kuwait is at 0.5% for 2024, on the back of oil cuts and sluggish non-oil activity. In a recent cabinet shuffle, the Kuwaiti government has acquired two new ministers in the key sectors of finance and trade. Political changes may hinder the development agenda and could delay reforms further. This is particularly significant as Kuwait requires budgetary reforms to shift from a welfare state and to tap into a larger, more international debt market which can encourage the non-oil sector to grow and reduce Kuwait's dependence on oil.
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