The International Monetary Fund revealed in a report that Kuwait has a golden opportunity to implement the public finance and structural reforms necessary to give a boost to inclusive growth led by the private sector and diversify its economy away from oil.
Following the conclusion of the 2024 Article IV consultation mission with Kuwait, the IMF noted that fiscal consolidation should gradually stabilize around 12 percent of GDP to promote intergenerational equity.
The IMF pointed out that the reforms should focus on improving the business environment, attracting foreign direct investment, and unifying the labor market, and should be based on continuing to adopt prudential monetary and fiscal policies in the financial sector.
