Kuwait non-oil growth improves at 4-4.5pct

18 Sep 2016

(MENAFN) Kuwait”s non-oil economy maintained a healthy pace of growth, while oil prices remained more than half their levels of two year ago.

However, oil prices declined from over uSD100 per barrel, a sizeable fiscal surplus turned into a deficit.

On the other hand, the fiscal deficit is predicted to narrow by 2017 as the price of oil gradually improves.

It is expected that Brent will average almost USD45 a barrel this year before rising to USD55 in the coming year.

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