GDP in Kuwait
Kuwait - GDPOn 3 January, Kuwait delivered on an OPEC agreement reached in December that aims at reducing oversupply in the global oil market. Kuwaiti authorities announced a cut in daily crude output by 130,000 barrels, or 4.6% of the country’s production. After the country’s deficit plunged into double digits last year on the back of dwindling oil-related revenues, the decision will buttress crude prices and could prevent the government from implementing harsher fiscal consolidation measures in 2017 as oil revenues rise. Nonetheless, risks are mostly tilted to the downside, since several OPEC members are unlikely to be able to implement the cuts. This could see Kuwait increasing output later in the year as production in the Al-Khafji and Wafra fields picks up.
Kuwait - GDP Data
|Economic Growth (GDP, annual variation in %)||9.6||6.6||1.2||-1.6||-|
5 years of economic forecasts for more than 30 economic indicators.
Note: Annual variation of gross domestic product (GDP) in %.
Kuwait GDP Chart
Source: Central Bank of Kuwait.
|Exchange Rate||0.31||0.02 %||Jan 20|
|Stock Market||6,642||3.20 %||Jan 20|
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