GDP in Kuwait
Kuwait - GDPOPEC’s decision only to extend the duration of its oil output cuts but not to deepen them at its 25 May meeting has driven crude prices lower. Nonetheless, efforts to diversify the government’s resources away from oil revenues, coupled with an outstandingly strong public balance sheet, were seen by Moody’s as reason enough to upgrade the country’s sovereign credit rating outlook from negative to stable on 26 May. The rating agency noted however that the timeline for introducing a long-awaited VAT, originally planned for January of next year and one of Kuwait’s key diversification measures, had slipped. In late April, Finance Minister Anas Khaled Al Saleh had argued that Kuwait still lacked the infrastructure to implement and collect the tax.
Kuwait - GDP Data
|Economic Growth (GDP, annual variation in %)||9.6||6.6||1.2||0.5||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Kuwait GDP Chart
Source: Central Bank of Kuwait.
|Exchange Rate||0.30||0.10 %||Jun 16|
|Stock Market||6,853||0.62 %||Jun 16|
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