A report issued by the Oxford Business Group, in cooperation with the Kuwait Fund for Arab Economic Development, on Kuwait's response to dealing with the Corona crisis, showed that Kuwait has taken large-scale measures to contain the spread of Covid-19.
The report expects that the rise in oil prices in the first quarter of this year will partially address deficit concerns in 2021, provided that the Kuwaiti economy exceeds growth levels before the Corona crisis by 2022, indicating the Kuwaiti economy’s need for a variety of government and private funding resources to resume Infrastructure projects.
The report revealed that during the period between March 2020 to March 2021, Kuwait scored the highest average score among the Gulf Cooperation Council countries, at 70.51 points, compared to 66.67 points in Qatar, and 64.53 points in the Sultanate of Oman, and 60.97 points in Bahrain, 60.3 points in Saudi Arabia, and 53.1 points in the UAE, to be the most stringent measures taken by the Kuwaiti government during the Covid-19 crisis at the level of cooperation countries.
Kuwait's foreign exchange reserves reached $ 45.5 billion at the end of last year, while the budget deficit in relation to GDP, according to Oxford estimates, was about -0.07 percent, compared to -0.05 percent in 2019.
Source (Al-Rai Kuwaiti Newspaper, Edited)
