The International Monetary Fund (IMF) has revealed that Kuwait's economic recovery continues, warning that risks to its future "remain significant". The IMF indicated that the stalemate between the government and the National Assembly could lead to continued delays in reforms.
The IMF expects real GDP to slow to just 0.1 percent this year after 8.2 percent growth in 2022, mainly due to oil production cuts. The IMF also forecasted non-oil real GDP growth of 3.8 percent this year from 4 percent in 2022.
The IMF noted that Kuwait can carry out the necessary reforms from a position of strength given the large financial and external reserves it enjoys.
Source(Al-Asharq Al-Awsat Newspaper, Edited)
