Fiscal Balance in Kuwait

Kuwait Fiscal Balance | Economic News & Forecasts

Kuwait - Fiscal Balance

Economic activity appears to have remained subdued in the final quarter of 2019, after stagnating in the third quarter. Activity in the all-important oil sector likely contracted again in Q4, amid sustained over-compliance with OPEC+ production cut targets. However, the non-oil sector seems to have performed better, thanks to a tight labor market and strong private-sector credit growth in October–November. In other news, the government’s proposed budget for FY 2020 projects a sharp increase in its fiscal deficit, driven by a slump in revenue and ongoing political paralysis that has prevented the issuance of new debt. This was touched on by the IMF’s Article IV concluding statement released on 27 January, which stressed the need to reduce the public wage bill and introduce new taxes to raise revenues.

Kuwait - Fiscal Balance Data

2014   2015   2016   2017   2018  
Fiscal Balance (% of GDP)7.6  -13.4  -13.9  -8.9  -3.0  

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Kuwait Fiscal Balance Chart

Kuwait Fiscal
Note: Fiscal balance as % of GDP.
Source: Central Bank of Kuwait.

Kuwait Facts

Value Change Date
Exchange Rate0.30-0.05 %Dec 31

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