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Kuwait real non-oil GDP to grow 4.5% in 2011: GIH

11 Apr 2011

(MENAFN) Kuwaiti Gulf Investment House (GIH) stated that the country’s real non-oil GDP is expected to increase by 4.5 percent this year as a result to the growth in government spending on the new Kuwait Development Plan (KDP), reported Times of Oman.

GIH added that it expected Kuwait’s 2011 Real oil GDP to grow 4.3 percent as a result of rising oil production.

Kuwait Development Plan (KDP) included expectations of the country’s GDP to rise 5.1 percent per year starting from 2011 up to 2014. The development plan would also enhance the growth in Kuwait’s financial and construction sectors.

It is worth noting that the House also said that it based its estimations on tfigures released by the International Monetary Fund (IMF).

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