Kuwait economic growth highly variable in recent years – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 12-May-2023
- Source: Arab Times Kuwait
- Sector:Financial Services
- Country:Kuwait
Kuwait economic growth highly variable in recent years – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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KUWAIT CITY, May 11: A recent report by Al- Monitor touched on economic policies and competitiveness in Kuwait in light of the ongoing disputes between the legislative and executive authorities, which had a negative impact on health care, education and other social services, reports Al-Qabas daily. The report stated that the country’s economic growth has been highly variable in recent years, reaching 8.9% in 2020, 1.3% in 2021, and 8.3% in 2022 at a time when the International Monetary Fund expects the country to record real GDP growth of 0.9% during the current year. The report pointed out that the oil and gas sector contributes more than 80% of the public sector revenue sources, as Brent crude prices are expected to average $85.01 per barrel in 2023 and $81.21 in 2024 — down from $100.94 in 2022, according to the US Energy Information Agency.
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