Kuwait’s central bank expects inflation to slow next year and foresees the economy returning to growth, Governor Sheikh Salem Abdul Aziz Al-Sabah said.
“For 2011 we expect between 3 and 4 percent and for this year I can say almost zero” growth, Sheikh Salem said in an interview in Beirut, Lebanon today. Inflation will be 4 percent by the end of this year and “slightly lower” in 2011, he said.
Sheikh Salem said in March that the economy of Kuwait, which produces about 2.3 million barrels of oil a day, may expand by as much as 5 percent this year as it recovers from a contraction caused by the global financial crisis.
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