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FinancialNews


  • 18-11-17

    Kuwait non-oil growth set to increase to 4pc

    (MENAFN) Driven by accelerated project implementation under the 5-year development plan and improved confidence, Kuwait's non-oil growth is set to increase regularly to about 4 percent, the International Monetary Fund (IMF) said.

    As the Opec+ deal expires (mission's baseline assumption) and to expand gradually afterwards in line with investment plans in the sector, Hydrocarbon output is projected to increase by 4.5 percent in 2018.

    Due to the introduction of the new taxes, Inflation is expected to rise to 2.5 next year and to peak at 3.75 percent in 2019, before stabilizing below 3 percent.

    The gradual pickup in oil production and prices will keep the current account broadly balanced over the forecast period.

    MENAFN1811201700450000ID1096107140

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