Kuwait – Mubasher: The economy in Kuwait has slowed down in 2015 in line with the decreasing oil production, according to ‘Kuwait – Economic Vision 2016’ report by Qatar National Bank (QNB).
The Kuwaiti parliament approved in February 2015 an investment program worth $116 billion, with projects being awarded for $32 billion which is 26% higher from value in 2014, the report said.
The gross domestic product (GDP) is expected to increase to 3.6% in 2016 and to 2.7% in 2017/2018 on the back of the government investment programme, QNB’s report added.
Until the year 2017, the volume of loans is projected to grow 8.3% in 2016, while deposits are likely to rise 3%.
Inflation in Kuwait is expected to increase to 3.6% in 2016, and to 4.4% and 4.9% in 2017 and 2018 respectively, QNB’s report said.
Aiming to cover the budget deficit of FY2016/17, the government is planning to issue debts securities worth $10 billion on an international level and $6 billion locally.
