A report issued by Mitsubishi UFG Bank, Japan's largest bank, showed that Kuwait achieved the highest fiscal balance among all Gulf countries in 2022, as a percentage of GDP. It also came second in the current account balance as a percentage of GDP last year after Qatar, expecting to maintain its second position in the Gulf in 2023.
In a report on its forecasts for the Middle East for 2023, the bank indicated that Kuwait achieved the second highest rate of real GDP growth among the GCC countries in 2022, after reaching 6.4 percent, while it is expected to record 2.2 percent this year, which is the lowest expected rate among the Gulf economies.
According to the bank, Kuwait has good liquidity, warning of continued political differences that may affect the rating, indicating that away from oil, the non-oil sector is booming, and the prospects for domestic demand are stable, as data indicates the expansion of the labor market and renewed growth in the number of expatriates, in addition to a steady credit expansion despite the rise in interest rates.
Source (Al-Rai Kuwaiti Newspaper, Edited)
