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Thursday, 15 September 2016

Kuwait’s outlook robust on strong public spending and fiscal buffers | GulfNews.com

Kuwait’s outlook robust on strong public spending and fiscal buffers | GulfNews.com:

"Despite the lower oil-price environment Kuwait’s economic outlook remains strong on high public spending and stable fiscal buffers, according to a report from Abu Dhabi Commercial Bank’s (ADCB) economic research team.
“We expect an acceleration in real non-oil GDP [gross domestic product] growth in 2016 and 2017 to above 3 per cent from 1.3 per cent in 2015 as the investment programme continues to gain momentum. Project awards have remained strong in 2016, despite the lower oil price, and the pace of project implementation has picked up,” said Monica Malik, Chief Economist of ADCB.
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