Mubasher: Standard & Poor's (S&P) has reaffirmed Kuwait’s rating of “AA/A-1+”, with a stable outlook.
The ratings agency expects the Kuwaiti economy to return to growth in 2018, according to a research note issued on Saturday.
“Kuwait’s large government and external net asset positions will continue to afford the authorities space to gradually consolidate government finances,” the report noted.
“The stable outlook reflects our expectation that Kuwait’s public and external balance sheets will remain strong over the forecast horizon, backed by a significant stock of financial assets,” the report further explained.
These strengths are forecasted by S&P to offset the risks facing Kuwait’s undiversified economy.
