Analysis by Region - Emerging Markets - Hungary

Analysis by Region - Emerging Markets - Hungary

Kuwait's near-term outlook remains positive, in our view, with higher oil output, oil prices, and consumption expected to lift GDP 2.9% y/y in 2023, lower than the 7.0% y/y growth anticipated for 2022. Private consumption is booming thanks to higher real estate sales, credit growth, and consumer spending. Plus, the government has approved nearly KWD 23bn of investments in various projects in four years, with 44% directed towards housing. That said, tighter monetary policy, delayed reforms, and project delays will put downward pressure on overall growth.