Kuwait: Staff Report for the 2002 Article IV Consultation

This 2002 Article IV Consultation highlights that in 2001, overall real growth for Kuwait fell slightly as oil output dropped following OPEC-mandated production cuts. The real non-oil GDP growth decelerated to 0.5 percent from 1 percent in 2000 as the private sector investment remained broadly unchanged. Inflation remained low at less than 2 percent, reflecting little increase in import prices and a modest nominal effective appreciation of the dinar. The macroeconomic position continued to be strong despite a decline in oil exports receipts.
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Volume/Issue: Volume 2003 Issue 013
Publication date: January 2003
ISBN: 9781451822281
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Business and Economics , Banks and Banking , Exports and Imports , Finance , Investments and Securities-General , Labor , Economics- Macroeconomics , ISCR , CR , government , surplus , Kuwaiti dinar , fund , economy , maintenance service , private sector participation , government employee , inflation low , IMF staff estimate , private sector activity , U , S , dollar , open economy , exchange rate , government budget surplus , Stock markets , Private investment , Foreign direct investment , Global

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Summary

This 2002 Article IV Consultation highlights that in 2001, overall real growth for Kuwait fell slightly as oil output dropped following OPEC-mandated production cuts. The real non-oil GDP growth decelerated to 0.5 percent from 1 percent in 2000 as the private sector investment remained broadly unchanged. Inflation remained low at less than 2 percent, reflecting little increase in import prices and a modest nominal effective appreciation of the dinar. The macroeconomic position continued to be strong despite a decline in oil exports receipts.

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