Kuwait: 2016 Article IV Consultation-Press Release; and Staff Report

January 17, 2017

Preview Citation

Format: Chicago

Kuwait: 2016 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed December 26, 2024

Summary

This 2016 Article IV Consultation highlights that the economic activity in the non-oil sector in Kuwait has continued to expand, albeit at a slower pace, reflecting the impact of lower oil prices. Nonhydrocarbon growth slowed from 5 percent to an estimated 3.5 percent in 2015, as higher uncertainty weighed on consumption. Labor market reforms and efforts to promote the role of the private sector are important to foster diversification and boost job creation for nationals. Better aligning labor market incentives is necessary to encourage nationals to take on private sector jobs and private firms to create opportunities for them.

Subject: Balance of payments statistics, Banking, Economic and financial statistics, Fiscal stance, Government debt management, Income, National accounts, Oil prices, Prices, Public financial management (PFM)

Keywords: Aligning labor market incentive, Authority, Balance of payments statistics, Budget financing, CR, Executive board assessment, GDP, Global, Government debt management, Income, Investment company, ISCR, Oil prices, Pension fund recapitalization, Price, Utility price reform

Publication Details

Pages:

66
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/015
Stock No:

1KWTEA2017001
ISBN:

9781475566543
ISSN:

1934-7685

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