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FINANCIAL NEWS
Kuwait’s 2011 oil revenue to reach USD85.9b: IMF
14 Aug 2011
(MENAFN) The International Monetary Fund (IMF) said that as a result of higher oil prices, in the current year, Kuwait’s oil revenue would reach USD85.9 billion from USD61.7 billion a year ago, reported Emirates 24/7.
The IMF added that in 2011, the country’s oil output would reach about 2.41 million barrels per day (bpd). On the other hand, the rise in the nation’s revenue would permit it to spend more and would enhance the country’s hydrocarbon sector.
It also said that in the year, oil sector’s growth would be around 3.3 percent, whereas it would be 6 percent in the non-hydrocarbon’s sector.
It is worth noting that in 2011, the country’s inflation will be forecasted to grow to 6 percent, and to 3.5 percent the coming year, compared with 4.1 percent in 2010.
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