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Kuwait GDP may grow 5.4% on increase in oil prices
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed March 21, 2012 5:40 pm
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KUWAIT. Kuwait’s gross domestic product may grow as much as 5.4% for the fiscal year ended March 31, KUNA reported, citing a study by the finance ministry’s Department of Macroeconomic and Fiscal Policy.

GDP growth was spurred by higher oil prices, the state-run news agency said.

Kuwait, the fourth-largest oil producer in the Organization of Petroleum Exporting Countries, had the slowest GDP growth among members of the Gulf Cooperation Council over the past five years, according to International Monetary Fund data.

GDP expanded by an average 2.6% annually compared with 4.2% in the United Arab Emirates, 5.7% in Bahrain and 18% in Qatar, according to the IMF.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. Employers need to create a long-term culture, focusing on professionals looking to establish their careers here rather than expatriates who stop by in the Gulf to avail themselves of tax benefits.
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QATAR. The IMF expects the slowdown to continue; This will add to the deflationary pressures that are threatening the global economic recovery
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UAE. Broadcast rights deals push entire Premier League into world's 40 highest earning clubs; Middle Eastern commercial partnerships contribute to significant commercial increases at both Manchester City and Paris Saint-Germain.
UAE. Broadcast rights deals push entire Premier League into world's 40 highest earning clubs; Middle Eastern commercial partnerships contribute to significant commercial increases at both Manchester City and Paris Saint-Germain.
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