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  • 04-12-17

    Kuwait non-oil GDP to hit 3.5percent in 2018

    (MENAFN) Kuwait's growth in non-oil activity is likely to have improved to 3.0 percent in 2017, with growth seen accelerating further to 3.5-4 percent in 2018 and 2019, the National Bank of Kuwait (NBK) said in its latest Economic Update.

    The state's economy continues to bounce back from a 2015 slowdown, which was induced by a fiscal adjustment in the wake of the decline in oil prices, the bank added.

    The key driver has been capital spending, bolstered by the improving implementation of the government's National Development Plan.

    A shift toward a more gradual fiscal adjustment should also reduce the drag on growth while ensuring continued progress on reducing the fiscal shortfall.

    MENAFN0412201700450000ID1096183074

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