Economic Updates: Kuwait

Kuwait: Increasing output

The Middle East | 30 Jan 2012
Kuwait: Increasing output

Oil production in Kuwait continues to increase, having reached 3m barrels per day (bpd) as of early December. Output could expand further in the longer run, according to officials from the Kuwait Oil Company (KOC), which recently said that it would be necessary to tap into the country’s heavy oil reserves to reach its 4m bpd capacity goal by 2020. At the same time, the country is also looking abroad for additional energy sources.

Kuwait: Year in Review 2011

The Middle East | 13 Jan 2012
Kuwait: Year in Review 2011

Kuwait can look back on 2011 as a year characterised by higher than expected oil revenues and developmental progress despite domestic political wrangling and turmoil in the global market.

Kuwait: Balancing act

The Middle East | 22 Dec 2011
Kuwait: Balancing act

Capital markets in Kuwait, like those in many GCC countries, are currently experiencing a challenging period, with investors largely staying on the sidelines in light of global economic uncertainties. Nonetheless, positive signs have recently emerged from the country, including the potential for two bond issuances in the near future, as well as the successful completion of a six-month transitional phase for the Capital Markets Authority (CMA), the country’s first independent stock market regulator.

Kuwait: Expanding and competing

The Middle East | 7 Dec 2011
Kuwait: Expanding and competing

With the highly competitive Kuwaiti telecoms market becoming increasingly saturated, the country’s three mobile operators are jostling for position. Central to all of their strategies is a greater focus on mobile data services.

Kuwait: Large-scale sukuks

The Middle East | 23 Nov 2011
Kuwait: Large-scale sukuks

While Kuwait has to date played a relatively small role in the fast-growing global market for sukuks, or Islamic bonds, this could change, should lawmakers develop and implement a more robust legal framework to regulate the issuance of sharia-compliant debt.

Kuwait: Eastern promise in China

The Middle East | 8 Nov 2011
Kuwait: Eastern promise in China

Kuwait’s sovereign wealth fund is taking significant steps toward increasing its presence in China, establishing a representative office in Beijing with the aim of capitalising on the Asian giant’s rapid economic progress and rising demand for energy.

Kuwait: Keeping on

The Middle East | 26 Oct 2011
Kuwait: Keeping on

While the world economy is still plagued by uncertainty, Kuwait’s continues to grow, supporting the country’s medium-term development plans. In September, the International Monetary Fund (IMF) lowered its forecast for 2011 global growth to 4%, taking into account the eurozone crisis and US debt, but announced that it expected 5.7% growth in Kuwait.