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13-04-14

Kuwait's GDP to hit 5 percent in 2014

(MENAFN) Kuwait/s real GDP forecast is expected to hit 5 percent this year compared to 4.5 percent in 2013, according to Khaleej Times. Main factors of the expected growth will be resilient oil production, which forms the bulk of exports, as well as increasing foreign direct investment. Dept relief programs held by the government will also help boost its growth and increase private consumption going forward. The country's oil sector is expected to grow further with a slower pace this year to reach 4 percent compared to 4.4 percent in 2013 on gradual decline in oil production.