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Expectations of growth of non-oil exports to Kuwait
10:06 - 31/10/2017
Information / Baghdad ..
KUWAIT: Kuwait, the Gulf's most heavily dependent oil exporter, will grow by 4.5 percent by the end of 2017 and jump to 7 percent in 2019, an economic report predicted.
Kuwait needs to diversify the economy, so the focus should be on public sector investment, improving the business environment and doing business, according to the IFC report.
Kuwait, a member of the Organization of the Petroleum Exporting Countries (OPEC), is committed to an agreement signed by the Organization with major producers from outside, to cut output by about 1.8 million barrels per day since the beginning of January 2017.
Kuwait continues to inject billions of dollars into vital projects in an effort to stimulate growth and diversify the economy, especially after the global oil price slump and its impact on the Gulf state economy.
According to data released by the Ministry of Finance earlier in October, the financial deficit of Kuwait declined significantly during the first five months of the current fiscal year, which began on April 1, to reach 83 million dinars ($ 273 million) in the index of The possibility of achieving a surplus again, after the State followed measures to enhance revenue and rationalize spending. Ending / 25
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