gulfnews : Kuwait GDP to slow to 6.6% in 2012 from 8.25% in 2011

Kuwait’s economic growth is expected to slow to 6.6 per cent in 2012 from 8.25 per cent in 2011, though higher public spending and buoyant oil revenues should keep the economy growing rapidly this year, the International Monetary Fund said.
In its latest Article IV review of the Kuwaiti economy, the IMF said high oil revenues and prices have helped Kuwait generate large fiscal surpluses that have fed its growing public spending.
“Higher oil revenues resulted in an increase in Kuwait’s current account and fiscal surpluses to over 14 per cent and 30 per cent of GDP respectively” in 2011, the IMF said.

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