The IMF’s annual article IV consultation agreed that Kuwait’s economic outlook remained favourable and forecast that non-oil sector growth will quicken in 2015, a statement released by the fund on 9 November says. The report on the consultation forecast that…
Category: Kuwait
MEED conference told IMF Kuwait Article IV report to call for new policies to increase efficiency and productivity
The MEED Kuwait Projects Conference was told this morning that the IMF’s Article IV report, due to be released early next month, will call on Kuwait’s policymakers to take steps to counter the effect of lower oil prices by boosting…
KNPC CEO accepts MEED Kuwait Projects Leadership Award
The annual MEED Kuwait Projects Leadership Award was presented this morning to Kuwait National Petroleum Company (KNPC) chief executive officer Mohammad Ghazi Al-Mutairi. “MEED and its customers have decided to recognise each year an organisation or individual that has made…
Kufpec finalises $1bn loan
National Bank of Kuwait (NBK), in cooperation with J.P Morgan Limited, has led a consortium of international, regional and Kuwaiti banks to arrange a syndicated loan of $1 billion for Kuwait Foreign Petroleum Exploration Company (KUFPEC), a wholly owned subsidiary…
IMF says Kuwait’s growth has accelerated in 2014
The IMF in its annual Article IV report said Kuwait’s growth has quickened in 2014 and that the Kuwaiti economy will continue to record substantial budget and balance of payments surpluses. GDP at current prices is forecast to grow by…
Kuwait inflation nears 3 per cent in May
Kuwait’s annualised consumer price inflation rose to almost 3 per cent in May, according to a report published today by National Bank of Kuwait. “Inflation in the consumer price index rose from 2.7 per cent year-on-year in April, to 2.9…
Kuwait real estate sales 24 per cent up year-on-year in May: NBK
Kuwait’s real estate market booming and sales in May were almost one-quarter higher than in the same month of 2013, according to the weekly economic report by the National Bank of Kuwait (NBK). “Sales were up from a year ago,…
Fitch affirms Kuwait at AA with stable outlook
Fitch Ratings today affirmed Kuwait’s long-term foreign and local currency issuer default ratings (IDR) at AA with a stable outlook. “Kuwait’s exceptionally strong sovereign balance sheet is the key support for the ratings,” Fitch said in a statement. “Very high…
Kuwait solar project plans listed at MEED conference
The MEED Kuwait Energy & Water Efficiency Conference was told today that 3 per cent of Kuwait’s forecast electricity generation capacity needs in 2030 could be met by operating, planned and proposed solar power projects. The projects are: • Rooftop…
MEED conference told Kuwait can save $25m a day by 2030
Kuwait could save at least $25m a day by 2030 if it implemented electricity and water efficiency and saving measures, the MEED Kuwait Energy & Water Efficiency Conference has been told. About 350,000 barrels a day (b/d) of liquid fuels…