The World Bank raised its forecast for real GDP growth for Kuwait this year from 5.7 percent in its previous estimates in April (April) to 8.5 percent in 2022, making the Kuwaiti economy the best performing among the Gulf Cooperation Council countries.
In its report on the latest economic developments, titled: “A New State of Mind: Enhancing Transparency and Accountability in the East and North Africa,” the Bank expected that the real GDP per capita in Kuwait will increase by 7.4 percent in 2022, compared to 4.5 percent in its previous forecast, the per capita share will rise to 1.4 percent next year, down from the bank's previous estimates of 2.5 percent.
The Bank predicted that the current account balance in Kuwait would reach 28.6 percent of GDP in 2022 and 23.6 percent in 2023, provided that the overall balance of the public budget would reach 1.1 percent of GDP during the current year, to shrink to -0.5 percent next year.
Source (Al-Rai Kuwaiti Newspaper, Edited)
