Kuwait’s GDP seen to fall in 2020 – IMF – ZAWYA

Kuwait’s GDP seen to fall in 2020 – IMF – ZAWYA

Mubasher: Kuwait's GDP is seen to fall by 1.1% this year from a 0.7% growth last year, due to the economic crisis resulting from the coronavirus (COVID-19) outbreak, according to the International Monetary Fund (IMF).. The Kuwaiti economy could grow by 3.4% in 2021, the IMF said in its World Economic Outlook report.. The GCC nation's inflation rate is likely to drop to 0.5% in 2020, compared to 1.1% last year, to reach 2.3% in 2021.. The current account is expected to contract and turn to a 10.2% deficit this year before decreasing to 7.8% in 2021..