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FinancialNews
14-06-21
Kuwait’s gross domestic product decreases 9.9 percent in 2020
(MENAFN)According to state news agency KUNA, Kuwait’s gross domestic product decreased 9.9 percent in last year, in comparison with enlargement of 0.4 percent in 2019, as a result of 2020’s sharp decrease in oil prices.
Kuwait had its finances decreased by an oil price crash and by the pandemic, as a draft law that would allow it to tap international debt has delayed amid disagreement amid successive parliaments and cabinets.
KUNA related its report on Central Bank of Kuwait’s governor, Mohammad Al-Hashel, who cited preliminary estimates and statistics and declared that the institution used all the tools available to it to blunt the pandemic’s effect.
Preliminary expectations and statistics also introduced the headline inflation volume improved to about 2.1 percent in 2020 from about 1.1 percent in 2019.
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