"The outlook for Kuwait's banking system remains stable, unchanged since 2011, says Moody's Investors Service in a new report ("Banking System Outlook: Kuwait) published yesterday. The outlook reflects the rating agency's expectation of a benign operating environment, supported by high oil revenues and government spending (mainly current account).
Over the 12-18 month outlook period, the operating environment for the banks will remain accommodative, underpinning the banking sector's robust capitalization and ample liquidity. Moody's expects that Kuwait's nonoil 2013 GDP growth (local banks operate primarily in the non-oil sectors of the economy) will increase to 3.2 percent, the highest rate for the past five years, mainly driven by the government's current account spending."
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