Kuwait – Mubasher: The non-oil gross domestic product (GDP) in Kuwait is expected to range between 3.5% and 4% in fiscal year 2017/2018 in line with executing large projects, according to a recent report by the National Bank of Kuwait (NBK).
NBK expected the GDP to shrink 2.4% this year in line with the agreement with OPEC to reduce oil production, while the GDP is forecast to regain its growth by 3.2% in FY18.
The average oil production may decrease 7% - 8% in FY17, the NBK’s report added.
The financial deficit is projected to shrink in 2017 and 2018 in line with the improvement in oil prices as well as further financial reforms.
