Economic Updates: Kuwait

Kuwait: Encouraging demand

The Middle East | 3 May 2012
Kuwait: Encouraging demand

The outlook for Kuwait’s banking system over the next 12-18 months remains stable, according to a recent report by Moody’s Investors Services. Asset quality has improved markedly since the days of the global financial crisis, and lenders are well capitalised. However, the country’s lenders face other challenges, most notably a sluggish economy that has left demand for loans – particularly on the corporate side – limited.

Kuwait: Investment drive

The Middle East | 24 Apr 2012
Kuwait: Investment drive

An ambitious infrastructure investment programme to be spread over the next two years is the latest stage of Kuwait’s long-term development plan.

Kuwait: Real estate recovery

The Middle East | 9 Apr 2012
Kuwait: Real estate recovery

Momentum generated by a strong recovery in Kuwait’s real estate sector in early 2012 is expected to continue throughout the year. In February 2012, the National Bank of Kuwait revealed that real estate sales in January totalled KD318.1m ($1.14bn), a 64% year-on-year (y-o-y) increase, which represents the third-best level on record.

Kuwait: Petrochemicals resurgence

The Middle East | 27 Mar 2012
Kuwait: Petrochemicals resurgence

Thanks to growing global demand for plastics in 2011, Kuwait’s petrochemicals companies reported improved financial results last year. Moreover, the sector looks set to expand, with the government investing in new facilities and taking steps to ensure that the industry has a sufficient supply of natural gas.

Kuwait: Growth in store for retail

The Middle East | 12 Mar 2012
Kuwait: Growth in store for retail

The completion of a sizeable local tower project, continuing expansion of the country’s largest mall and moves by a major Kuwaiti retail firm into the UK market have underlined the rising growth and confidence in the domestic retail sector. This confidence is being seen in new investment and projects, with Kuwait’s largest mall and shopping centre, The Avenues, building a $500m extension scheduled for completion by September 2012.

Kuwait: Ending economic uncertainty

The Middle East | 28 Feb 2012
Kuwait: Ending economic uncertainty

Hopes are rising that January’s elections will end a period of economic uncertainty and allow the newly elected government to focus on increasing levels of foreign direct investment (FDI). Concern was mounting that Kuwait risked falling behind its regional rivals in attracting investment and diversifying its economy, despite surging oil revenues and solid growth last year.

Kuwait: A healthy prognosis

The Middle East | 14 Feb 2012
Kuwait: A healthy prognosis

Development of the health care sector remains a priority for Kuwait, with the government recently signing two agreements with foreign educational institutions that aim to improve training for the country’s medical professionals. While the goal of this type of international collaboration is to enhance the skills of local physicians who work at state-run facilities, the government is also taking steps to create private investment opportunities in health care.