Kuwait expected to record lowest growth in Gulf

Kuwait expected to record lowest growth in Gulf

The Economist Intelligence Unit (EIU) stated in a recent analysis that the Middle East and North Africa (MENA) region recorded a strong performance in 2022 in terms of attracting foreign direct investment (FDI), expecting the recovery of capital flows to the region to be reasonable in 2023 and 2024, reports Al-Rai daily. The unit believes the macroeconomic background will be supportive of FDI flows for most of the region’s economies, and suggested that more than half of the region’s countries will record average economic growth rates higher than 3 percent during the same period.

The unit expects Kuwait to record the lowest economic growth in the Gulf during this year and the following years, as the figures issued by the “Economist Intelligence” indicate that the average real Kuwait GDP growth will reach 1.9 percent during this period, while the UAE will record the highest rate for the same period by 4 percent followed by Qatar 3.7 percent, then Bahrain 3.5 percent, then Oman 3 percent, then Saudi Arabia 2.4 percent

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Moreover, most countries in the region, particularly the Gulf states, will continue to enjoy low inflation rates and stable exchange rates, which encourages the investment climate. However, the unit excluded from this