Page 7 - Kuwait-Three-Years-Business-Outlook-2019-2020-2021

Kuwait Economy

• Kuwait's 2019 growth forecast from 3.1% to 2.7% to

factor in the likely extension of OPEC-led production cuts

to H219.

• Nevertheless, expansionary fiscal policy combined with

increased credit demand will spur final consumption,
pushing headline growth above its 2018 estimate of

1.2%.
• Strong investment levels will further reinforce growth,
though we caution that red tape will pose downside

risks to project implementation.

• NBK has reviewed the forecast of 2019 growth for

Kuwait from 3.1% to 2.7% as OPEC/non-OPEC oil
production cuts constrain exports. That said, this

represents an uptick in growth compared to the 2018
estimate of 1.2% following the poor performance of the
Final Consumption To Bolster Growth
oil sector over H118. Kuwait – PP Contribution To Real GDP Growth, %

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