Kuwait: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait
IMF Staff Country Reports, December 2, 2015
Source details
- Canonical URL
- Kuwait: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait
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Bibliographic details
- Published: December 2, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513559322.002
Overview
- Publication date: December 2, 2015
- Format note: IMF Staff Country Reports 2015, 327 (2015)
- Pages: 61
- DOI: https://doi.org/10.5089/9781513559322.002
- Issue: 327
- Series: Country Report No. 2015/327
- Stock No: 1KWTEA2015001
- ISBN: 9781513559322
- ISSN: 1934-7685
- Subjects listed: Banking, Energy prices, Financial institutions, Inflation, Loans, Oil prices, Prices, Real estate prices
- Keywords listed: a number of investment companies, authority, CR, Energy prices, Global, Inflation, investment company, ISCR, Kuwaiti dinar, labor market information system, Loans, oil price decline, Oil prices, Real estate prices, staff recommendation
Key findings and projections
- Decline in oil prices has adversely affected Kuwait’s fiscal and current account balances and slowed growth in 2014–15.
- Real non-oil GDP growth is projected to:
- slow in 2015 and 2016
- pick up to 4 percent in the medium term
- Fiscal and external positions are projected to:
- deteriorate further in 2015 and 2016
- improve somewhat over the medium term as oil prices and production recover partially
Analysis highlights
- The report links lower oil prices directly to weaker fiscal balances and current account outcomes during 2014–15.
- Growth dynamics distinguish between oil-sector developments and non-oil activity; non-oil growth is specifically projected to slow in 2015–2016 before returning to 4 percent in the medium term.
- The expected medium-term improvement in fiscal and external positions is conditional on a partial recovery in oil prices and oil production.
Policy recommendations and commentary in the supplied text
- The supplied content summarizes projections and assessments but does not list explicit policy prescriptions beyond noting that government investment in infrastructure and private investment are expected to support the medium-term pickup in non-oil growth.
Source: Kuwait: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Kuwait (December 2, 2015). DOI: https://doi.org/10.5089/9781513559322.002